GFI Energy Ventures - Press Release

InfraSource Services, Inc. Prices Initial Public Offering of Common Stock

May 7, 2004 - For Immediate Release

Philadelphia, PA – InfraSource Services, Inc. (NYSE: IFS), today announced the pricing of its initial public offering of 8.6 million shares of common stock at $13.00 per share. Of the shares sold in the offering, 8.5 million were sold by InfraSource and 100,000 shares were sold by the selling stockholders. The underwriters have an option to purchase an additional 1.3 million shares from the selling stockholders to cover over allotments, if any. Subject to customary closing conditions, the offering is expected to close on May 12, 2004.

InfraSource expects to use the net proceeds to it from the offering to repay outstanding debt and for general corporate purposes. InfraSource will not receive any of the proceeds from sales by the selling stockholders.

About InfraSource:
InfraSource provides design, engineering, procurement, construction, testing, maintenance and leasing of utility infrastructure services to electric power utilities, natural gas utilities, government entities and heavy industrial companies.Lehman Brothers Inc. acted as lead manager and sole book-runner for the offering, and Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as joint-lead manager.

Copies of the prospectus relating to the offering may be obtained from Lehman Brothers Inc. at c/o ADP Financial Services, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717.
A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration of qualification under the securities laws of any such state or jurisdiction.

Statements contained in this press release that are not based on current or historical fact are forward-looking in nature. Such forward-looking statements are based on current plans, estimates and expectations are made pursuant to the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on known and unknown risks, assumptions, uncertainties and other factors. The Company’s actual results, performance, or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statement.

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