Itron receives request for more information from the FTC

SPOKANE, Wash., Aug. 29, 2003 — Itron Inc. announced that it has received a request for additional pre-merger filing information (commonly known as a “second request”) from the Federal Trade Commission (FTC).

This request is in connection with Itron and Schlumberger’s filing under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 related to Itron’s previously announced acquisition of Schlumberger’s electricity metering business.

The FTC request will result in an extension of the thirty-day waiting period under the Act, which was to expire on August 28, 2003. Once Itron has substantially complied with the second request, the FTC has another thirty-day waiting period to determine whether or not to oppose the acquisition. Itron intends to respond promptly to this second request.

Itron remains confident that the acquisition will receive clearance from the FTC and expects the acquisition will close in the fourth quarter of this year.

About Itron

Itron is a technology provider and critical source of knowledge to the global energy and water industries. More than 2,800 utilities worldwide rely on Itron technology to deliver the knowledge they require to optimize the delivery and use of energy and water.

Itron delivers value to its clients by providing solutions for meter data collection, energy information management, demand side management and response, load forecasting, analysis and consulting services, transmission and distribution system design and optimization, web-based workforce automation, C&I customer care and residential energy management. To know more, start here: www.itron.com.


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