Strong result for Vattenfall - Significant improvement in Germany

YEAR-END REPORT 2004-02-19 Strong result for Vattenfall - Significant improvement in Germany * Net sales increased by 10.8 per cent to SEK 111,935 million (SEK 101,025m). * Operating profit increased by 14.5 per cent to SEK 15,296 million (SEK 13,363 m). * Net profit increased by 20.6 per cent to SEK 9,123 million (SEK 7,566m). Please find enclosed a short version of the Vattenfall Group Year-end Report in pdf format. The complete report may be downloaded from Vattenfall's website www.vattenfall.com A presentation of the result will be given by Lars G Josefsson, CEO, and Matts Ekman, CFO, at a press and analyst's meeting today at 13:00 CET. To participate in the conference via telephone please call the following number a few minutes before 13:00 CET: +44 (0)20 7162 0197. A replay of the Conference Call will be available for five days. Replay number: + 44 (0)20 8288 4459 (code 326132) To follow Vattenfall's presentation on the internet (audio & slides), please click on www.financialhearings.com and select "Vattenfall". The presentation will be archived for several months. Please note that you will need "Real Player"or "Windows Media Player" to follow the presentations. Alternatively you can see the slides on www.vattenfall.com / Investors / Presentations. From Vattenfall's Press Office, telephone: +46 8 739 50 10. For more information, please contact: Klaus Aurich, Head of Investor Relations, telephone +46 8 7396514, +46 70 539 65 14. Martin May, Head of Group Media Relations, Vattenfall AB, phone +46 8-739 52 70. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/02/19/20040219BIT00350/wkr0001.pdf The full report

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Vattenfall’s vision is to be a leading European energy company. Vattenfall’s main products are electricity and heat. Today, Vattenfall generates electricity, produces heat and supplies energy to several million customers in the Nordic countries and northern Europe. The major customers are industrial plants, energy companies, municipalities, property companies and housing associations. For further information, please see www.vattenfall.com. The media service section, including a picture archive and Vattenfall’s press releases, can be found under News & Comments.

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