Acting CFO of Vattenfall appointed

Dag Andresen leaves Vattenfall. Peter Smink appointed acting CFO.

Peter Smink has been appointed acting CFO of Vattenfall from October 28, 2011. Vattenfall’s current CFO, Dag Andresen, is leaving Vattenfall.

“Dag Andresen has made great and highly appreciated efforts to centralise, coordinate and streamline Vattenfall's CFO function during an important period for Vattenfall,” says Øystein Løseth, Vattenfall's President and CEO.

“I wish to thank Dag Andresen for his leadership and loyal work for Vattenfall. Now, as Vattenfall is in a different position, the company has decided to find a CFO with a different profile,” says Øystein Løseth.

Dag Andresen has served as Vattenfall’s CFO since October 1, 2008. When leaving Vattenfall, he will receive a salary for six months' notice and severance pay equal to a maximum of 18 months in accordance with agreements and guidelines. Severance pay is paid monthly. Payments as received in salary, or other similar compensation during the 18 months’ severance period will be deducted from the severance pay.

“Vattenfall is one of the most exciting companies to work with. I am grateful to have had the privilege to participate and contribute to a more cohesive and efficient Vattenfall,” says Dag Andresen.

Peter Smink is currently Head of Group Finance within Vattenfall AB. He has been active in NV Nuon Energy/Vattenfall since 2001, as CFO and member of the Management Board of Nuon amongst other positions. He will continue in this position.

Vattenfall has begun the recruiting process for a new CFO of Vattenfall.

Vattenfall discloses the information provided herein pursuant to the Swedish Securities Market Act.

For further information, please contact:
Elisabeth Ström, Head of Group Communications, mob. +46 70-643 12 10

From Vattenfall's Press Office, telephone: +46 8 739 50 10, press@vattenfall.com.

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