Vattenfall Europe AG agree to the merger with Bewag AG in Berlin

Vattenfall Europe AG agree to the merger with Bewag AG in Berlin In a Special General Meeting the shareholders of Vattenfall Europe AG today agreed on the merger of Bewag and Vattenfall Europe with 99,96 percent of the votes. The decision followed a similar decision by the Annual General Meeting of Bewag AG on 31 January 2003. The General Meeting also approved an increase of the capital stock by roughly EUR 17.9m to now EUR 258.5m (99,96 percent of the votes). Finally, the Meeting agreed on a domination and profit and loss pooling agreement between Vattenfall Europe AG and the wholly-owned subsidiary Vattenfall Europe Mining AG (formerly registered as Laubag) with 100 per cent of the votes. All decisions required for the formation of Vattenfall Europe AG, Germany's third largest company in the electricity sector have now been taken in the respective decision bodies of the merging companies. The decisions taken by the Special General Meeting take effect when being entered into the Commercial Register. Application for registration can be submitted at the earliest four weeks after the Meeting. Following this, the shares held in Bewag by independent shareholders will be exchanged for shares in Vattenfall Europe. The exchange rate, which is based on an evaluation through certified accountants, will be one Bewag share to 0.5976 share in Vattenfall Europe. The exchange will be carried out by the depositary banks; shareholders do not need to take any action themselves, nor will they incur any costs. From Vattenfall's Press Office, telephone: +46 8 739 50 10. For more information, please contact: Martin May, Press Officer, Vattenfall Europe, phone +49 (30) 81 82 23 20 or +49 (172) 42 91 248 Karl-Erik Olsson, Press Officer, Vattenfall AB, phone +46 (8) 739 85 73 10. Vattenfall's vision is to be a leading European energy company. Vattenfall's main products are electricity and heat. Today, Vattenfall generates power and supplies energy to several million customers in the Nordic region and northern Europe. The largest electricity customers are industrial plants and energy companies. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/02/06/20040817BIT21050/wkr0001.pdf