New Managing Director for HEW nominated

New Managing Director for HEW nominated Vattenfall's President and CEO, Lars G. Josefsson, in his capacity as Chairman of the Board of Hamburgischen Electritictäts-Werke AG (HEW), is to propose to the HEW Board that Dr. Klaus Rauscher be appointed as Managing Director. The appointment of Dr. Rauscher is expected to take place at the next meeting of the Board of HEW on 4 October 2001. In his function as Managing Director of HEW, Dr. Rauscher will also lead the integration process for the New Force that is being formed on the German electricity market. This New Force will be formed through the merger of the four companies HEW, Bewag, VEAG and Laubag. Once this merger process has been completed, it is expected that Dr. Rauscher will be given the role of Managing Director of the new German group. Dr. Klaus Rauscher, 52, has been a member of the management of Bayerische Landesbank, Munich, for the last 9 years. He is a doctor of law, and he is married and has two children. Issued by Vattenfall's Press Office, telephone +46 8 739 50 10. For further information please contact: Karl-Erik Olsson, Press Director, Vattenfall, tel: 08-739 75 83, 070-538 81 38. Vattenfall's vision is to be a leading European energy company. The Nordic region, Poland and Germany are its domestic markets. Today, Vattenfall generates power and supplies energy solutions to several million customers in the Nordic region and northern Europe. The largest electricity customers are industrial plants and energy companies. Vattenfall's main products are electricity, heat and natural gas, as well as network, consulting and maintenance services. The Group's net sales in 2001 are calculated to around SEK 70 billion. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/09/25/20040817BIT21700/wkr0001.pdf