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Sempra Energy: RBS Sempra Commodities' David Messer Resigns

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^{Published in Business and Finance on Wednesday, March 25th 2009 at 13:41 GMT, Last Modified on 2009-03-25 13:42:57 by Market Wire}  

SAN DIEGO, CA--(Marketwire - March 25, 2009) - Sempra Energy (NYSE: [ SRE ]) today confirmed that David A. Messer has resigned as president and chief executive officer of RBS Sempra Commodities, the company's commodities-marketing joint venture with The Royal Bank of Scotland (LSE: RBS).

Messer worked for Sempra Energy and its predecessor companies for 11 years and 26 years in the financial sector.

Mark A. Snell, chief financial officer of Sempra Energy, and Jeremy Wright, chief administrative officer of RBS' markets business, will manage the business jointly in the interim, until a successor is named.

"David has played a significant leadership role in building our successful commodities business and we wish him well," said Donald E. Felsinger, chairman and chief executive officer of Sempra Energy. "Looking forward, we have a very strong commodities franchise that continues to grow and prosper with the support of RBS."

"Together, we built a company about which we can be immensely proud," Messer said.

The joint venture was formed April 1, 2008, when RBS Sempra Commodities LLP purchased Sempra Commodities. RBS Sempra Commodities became a part of RBS' Global Banking and Markets business.

RBS Sempra Commodities is an international marketing and trading company that combines financial risk management with physical expertise to provide innovative solutions for customers in natural gas, power, petroleum and base metals, as well as natural gas liquids, coal, emissions credits and ethanol.

Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2008 revenues of nearly $11 billion. The Sempra Energy companies' 13,600 employees serve about 29 million consumers worldwide.

This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words like "believes," "expects," "anticipates," "intends," "plans," "estimates," "may," "would," "could," "should," or similar expressions, or discussions of strategies, plans or intentions. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Forward-looking statements are necessarily based upon various assumptions involving judgments with respect to the future and other risks, including, among others: local, regional, national and international economic, competitive, political, legislative and regulatory conditions and developments; actions by the California Public Utilities Commission, California State Legislature, California Department of Water Resources, Federal Energy Regulatory Commission, Federal Reserve Board, and other regulatory and governmental bodies in the United States, the United Kingdom and other countries; capital market conditions and inflation, interest and exchange rates; energy and trading markets, including the timing and extent of changes and volatility in commodity prices; the availability of electric power, natural gas and liquefied natural gas; weather conditions and conservation efforts; war and terrorist attacks; business, regulatory, environmental and legal decisions and requirements; the status of deregulation of retail natural gas and electricity delivery; the timing and success of business development efforts; the resolution of litigation; and other uncertainties, all of which are difficult to predict and many of which are beyond the control of the company. These risks and uncertainties are further discussed in the reports that Sempra Energy has filed with the Securities and Exchange Commission. These reports are available through the EDGAR system without charge at the SEC's Web site, [ www.sec.gov ] and on the company's Web site, at [ www.sempra.com ].

Sempra Energy Trading, doing business as Sempra Commodities, and Sempra Generation are not the same companies as the utilities, SDG&E or SoCalGas, and the California Public Utilities Commission does not regulate the terms of their products and services.