(a) Spectral fit to GH04 using a single absorbed power law, restricted to energies 1.5–4 keV. Extraction and binning as in Fig. 1, with absorption fixed to the Galactic value. The best‐fit photon index is ﹩\Gamma _{s}=1.9\pm 0.5﹩; however, there is clearly an excess at low energies. (b) Same as in (a), but with the power‐law component fixed to a photon index of ﹩\Gamma _{s}=1.9﹩ and an additional blackbody component (in the rest frame of the AGN) included. A blackbody component with a best‐fit temperature of ﹩kT=0.15\pm 0.24﹩ keV accounts for 40% of the flux at 0.6 keV.