Carl C. Icahn Issues Open Letter to Stockholders of Southwest Gas

CARL C. ICAHN

16690 Collins Avenue, Suite PH-1

Sunny Isles Beach, FL 33160

Dear Fellow SWX Stockholders:

The incumbent SWX directors are now telling you they have started a process to sell the company and they have received an “indication of interest.” Assuming this is factual, ask yourself the following question: how can shareholders trust CEO John Hester …