Ethanol Production Partnership for U.S.

[] Sempra Commodities of Stamford, Connecticut and renewable energy developer New Hope Partners of Newtown, Pennsylvania have agreed to create a joint venture focused on ethanol production in the United States. Nearly 3 billion gallons of ethanol are consumed in the United States annually. Approximately one-third of all U.S. gasoline contains some ethanol content. New Hope Partners will take the lead on siting and developing the production facilities, while Sempra Commodities will market the ethanol and provide risk-management services. The partners expect the new joint venture to begin operations in the second quarter of 2005.

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