New York, November 15, 2007—Shearman & Sterling is representing the Lead Arrangers in support of Puget Energy’s merger agreement with a consortium of infrastructure investors. Puget Energy is the parent company of Puget Sound Energy (PSE), a regulated utility providing electric and gas service to the Puget Sound region of Western Washington. The consortium is led by Macquarie Infrastructure Partners, the Canada Pension Plan Investment Board, and British Columbia Investment Management Corporation and also includes Alberta Investment Management, Macquarie-FSS Infrastructure Trust and Macquarie Bank Limited. The transaction, which has an enterprise value of approximately $7.4 billion, is expected to provide PSE with $5 billion in capital over the next five years to support supply and delivery infrastructure needs.

Principal attorneys working on this transaction are partner Cynthia Urda Kassis (NY-FG), counsel Robert Freedman (NY-FG) and associate Mansoor Awan (NY-FG). Other attorneys involved include partner John Sykes (NY-TX), counsel Jeff Salinger (NY-ENV) and associate Garrett Dowd (NY-ECEB).

For additional information contact:
Ron Brandsdorfer| New York | T +1.212.848.5081|