Vattenfall and Sydkraft have completed the transfer of HEW shares

Vattenfall and Sydkraft have completed the transfer of HEW shares Vattenfall and Sydkraft today completed the share transfer agreement concerning Vattenfall's acquisition of 21.8 per cent of the shares of Hamburgische Electricitäts-Werke (HEW). This will make Vattenfall the majority shareholder in the German company. The agreement means that Vattenfall will take over 20 064 010 shares in HEW, which is equivalent to 21.8 per cent of the total, and that Vattenfall will thus reach a majority holding of 55.9 per cent. Vattenfall is expected to further strengthen its majority holding in the near future through a separate agreement with the German group E.on. HEW is Germany's fifth largest power group with approximately one million customers, sales of over SEK 20 billion and almost 7 000 employees. The agreement between Vattenfall and Sydkraft is a central element of the implementation of the preliminary agreement presented earlier (see the Vattenfall press release dated 12 march 2001). From Vattenfall's Press Office, telephone +46 8 739 50 10. For more information, please contact: Karl-Erik Olsson, Director Media Communication, telephone +46 8 739 75 83. 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 2.2 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. Vattenfall's net sales in 2000 amounted to almost SEK 32 billion. Sales included 83 TWh electricity and 17 TWh heat. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/05/03/20040817BIT20840/wkr0001.pdf