Clean Energy to Acquire CNG Fueling Operations of Public Service New Mexico

SEAL BEACH, Calif.--April 12, 2004--Clean Energy, North America's leader in clean transportation, has reached agreement with Public Service Company of New Mexico (PNM) to purchase its network of natural gas fueling stations pending final approval by the New Mexico Public Regulation Commission.

Clean Energy has assumed operations of the PNM network of nine compressed natural gas (CNG) fueling stations, which includes related maintenance/service contracts. This is in addition to the one independent CNG fueling station Clean Energy already owns and operates in New Mexico at Las Cruces.

"We look forward to working with PNM and its customers to help develop the clean vehicle program further and leverage New Mexico's vast resource of natural gas," said Mitchell W. Pratt, Clean Energy vice president, business development. "Our size, experience and quality of service make Clean Energy the natural partner in the state's quest to protect the environment and to deliver the measurable benefits of vehicular natural gas."

Clean Energy and PNM will maintain a strategic alliance to promote the use of natural gas vehicles (NGVs) throughout the State of New Mexico. The two companies will also cooperate on matters of mutual interest, such as tariff rates for NGVs and incentive programs for the use of NGVs. No other terms of the agreement were disclosed.

Clean Energy is the largest provider of vehicular natural gas (CNG and LNG) in North America with a broad customer base in the refuse, transit, shuttle, taxi, police, intrastate and interstate trucking, airport and municipal fleet markets with tens of thousands of vehicles fueling at more than 150 CNG locations in the United States and Canada. Customers include Los Angeles International Airport, Phoenix Sky Harbor International Airport, SuperShuttle, SunLine Transit, Foothill Transit, Waste Management, Dallas-Ft. Worth International Airport, SYSCO Foods, Ft. Worth Transportation Agency, Denver International Airport, Denver RTD, MTDB of San Diego, LaGuardia Airport, Massachusetts Bay Transportation Authority, and the US Navy. The company partners with Ford Motor Company to help expand its market share of natural gas vehicles. Clean Energy is a private company whose major shareholders include Boone Pickens, Terasen Inc. (formerly BC Gas Inc., TSE: TER.TO), Westport Innovations Inc. and Perseus 2000 LLC. Information at: www.cleanenergyfuels.com