AGL Resources Completes Sale of AGL Networks Telecommunications Business

ATLANTA, July 1 /PRNewswire-FirstCall/ -- AGL Resources (NYSE: AGL) today completed the previously announced transaction to sell its AGL Networks dark-fiber telecommunications business to Colorado-based Zayo Group, LLC.

"The sale of AGL Networks provided us an opportunity to monetize a non-core business at an attractive level and concentrate our focus on core operations consistent with our commitment to shareholders," said Steve Cave, vice president of finance for AGL Resources. "Proceeds from the sale are being used for debt reduction and will help fund strategic growth opportunities, particularly in our regulated natural gas business."

About AGL Resources

AGL Resources (NYSE: AGL), an Atlanta-based energy services company, serves approximately 2.3 million customers in six states. The company also owns Houston-based Sequent Energy Management, an asset manager serving natural gas wholesale customers throughout North America. As an 85-percent owner in the SouthStar partnership, AGL Resources markets natural gas to consumers in Georgia under the Georgia Natural Gas brand. The company also owns and operates Jefferson Island Storage & Hub, a high-deliverability natural gas storage facility near the Henry Hub in Louisiana. For more information, visit www.aglresources.com.

SOURCE AGL Resources