AGL Resources Names Treasurer and New Vice President of Tax

ATLANTA, Nov. 3, 2010 /PRNewswire-FirstCall/ -- AGL Resources (NYSE: AGL) today announced that Steve Cave has been given the additional title of treasurer of the company, and that Grace Kolvereid has been named vice president of tax.

"We are fortunate to have these two talented individuals in our finance organization, and today's announcement recognizes the outstanding quality of their work on behalf of the company," said Andrew W. Evans, executive vice president and chief financial officer.  

"Steve has done an excellent job managing our treasury function over the past year, a time when we have successfully completed nearly $1.5 billion in financing transactions, and will continue to bring significant value to the company in that regard," Evans said.  "With a strong background in global tax planning, Grace has completely restructured and modernized our tax organization and has developed tax strategies that optimize our business efficiency and provide significant value to the corporation.  I am proud to be able to recognize both Steve and Grace at this time."

Cave, who joined AGL Resources in 2001, most recently has served as vice president of finance, overseeing the company's treasury and finance operations, including corporate finance, cash management, capital markets activities, bank and rating agency relationships, investor relations, corporate budgeting and business development.  Previously, Cave was managing director of investor relations for the company, and also has served as director of financial and external reporting.  He serves on the American Gas Association Finance Committee, and is a member of the National Association of Corporate Treasurers and the Association for Financial Professionals.  Cave attended Transylvania University and has a bachelor's degree from the University of Louisville.  He also completed graduate coursework in the University of Louisville MBA program.  

Kolvereid joined AGL Resources in 2006 as managing director of Corporate Tax, overseeing the company's federal, state and international tax compliance, tax planning and tax accounting. Earlier, Kolvereid spent 11 years with Delta Air Lines in a number of domestic and international tax management positions, and was responsible for federal, state and international tax planning.  She is a member of the Tax Executives Institute and the American Gas Association Taxation Committee. Kolvereid earned her bachelor's degree in accounting from Lehigh University and master's in taxation from American University.  Kolvereid is a Certified Public Accountant.

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 two high-deliverability natural gas storage facilities: Jefferson Island Storage & Hub near the Henry Hub in Louisiana and Golden Triangle Storage in Texas. For more information, visit www.aglresources.com.

SOURCE AGL Resources