Allegro Solutions to Enhance All Aspects of Natural Gas Supply Chain

DALLAS, Texas, June 26, 2008 – Allegro (www.allegrodev.com), a leading provider of energy trading and risk management (“ETRM”) solutions, today announced that Union Fenosa Gas has selected Allegro solutions to manage their natural gas and LNG operations.  Union Fenosa Gas will use Allegro’s solutions to support their daily supply, trading, vessel transportation and storage operations.

“Union Fenosa Gas, a solid player in the global LNG market, has chosen Allegro, within the scope of its new 2008 IT Plan, to help shape, support and integrate the business processes of the company and gain competitive advantage throughout the entire natural gas chain management,” said Human Resources & Services Director of Union Fenosa Gas, J.Jaime Santamaria Ruiz.  “We are confident that the Allegro partnership will provide technological excellence to strengthen and improve our business positions in today’s rapidly evolving and competitive natural gas market.”

Union Fenosa Gas is owned jointly by Union Fenosa, one of Spain’s largest energy companies, and Italian group Eni, a world leader in the energy sector.  Union Fenosa Gas has been in operation since 1998, and has established a strong business model based on presence at every stage of the natural gas chain - from supply at source, to national and international marketing, including sea transport and infrastructures for liquefaction and regasification.

Allegro will enable Union Fenosa Gas greater transparency and flexibility throughout the entire natural gas chain.  Among the components Union Fenosa Gas will employ are those that manage contracts, position management, NG and LNG operations, net valuation and settlement.

This software implementation represents the first joint venture under a partnership between Allegro and Indra - the leading provider of Information Technology in Spain, as well as a leader in Europe and Latin America.  Indra is Allegro’s first Premier Partner, as a result of Allegro’s Alliance Program launched earlier this year.  Together, Allegro and Indra will provide unmatched value to Union Fenosa Gas through a single platform, advanced technology, and excellence in service and support.

About Union Fenosa Gas

Union Fenosa Gas is involved in the liquefaction of natural gas, in shipping the resultant LNG, and in selling and marketing it within Spain, where Union Fenosa has been keen to develop a multi-utility position in a fairly liberalised market. It is involved in JV projects for liquefaction plants in both Oman and Egypt, the latter being a project to build the largest single-train LNG plant in the world.  In 2003, Italy’s gas giant Eni bought a 50% share in Union Fenosa Gas, thus bringing both expertise in gas and knowledge of Egypt, a country in which it’s been established for more than 50 years.

About Allegro Development

Allegro is a global leader in energy trading & risk management solutions for power and gas utilities, refiners, producers, traders, and commodity consumers. With more than 27 years of deep industry expertise, Allegro’s enterprise platform drives profitability and efficiency across front, middle, and back offices, while managing the complex logistics associated with physical commodities.  Allegro provides customers with agile solutions to manage risk across natural gas, power, coal, crude oil, petroleum products, emissions, and other commodity markets, allowing decision makers to hedge and execute with confidence. Headquartered in Dallas, Texas, Allegro has offices in Calgary, Houston, London, Singapore, Sydney, and Zurich, along with a global network of partners.

For further information please contact Christie Lindstrom at media@allegrodev.com or +1.214.237.8117.