Vattenfall offers economic development programme for Silesia

Vattenfall offers economic development programme for Silesia Vattenfall is ready to start a programme of economic development for Silesia, called "Switch on to Silesia". Starting the activities of the programme will be possible when Vattenfall is chosen as the strategic investor in Górnoslaski Zaklad Energetyczny S.A. ("GZE"). The leading Scandinavian company's Polish client is prepared to make an investment soon in Silesia, which will create 400 new jobs. The programme will have a significant influence on the region's economy. The total tax income to the state budget is estimated to nearly 100 million PLN during the next five years. Vattenfall is in an advanced stage of negotiations with the Minister of the State Treasury about purchasing shares of Górnoslaski Zaklad Energetyczny S.A. (GZE) in Gliwice. Vattenfall will give GZE access to all products, services and concepts developed by Vattenfall in other countries. Vattenfall wants GZE to become its base of activities concerning distribution and sale of energy in Poland. As part of the investment in GZE, Vattenfall will make concentrated efforts for a broad economic development of Silesia through the programme "Switch on to Silesia". As a part of the programme, Vattenfall is negotiating with its industrial clients from Scandinavia, to locate new investments in Silesia, in case Vattenfall invests in GZE. The exclusive co-operation between Vattenfall and its industrial clients will make the region more attractive to investors. Negotiations on the first investment project are already underway. Initially, it will create 400 new industry jobs and it will also make possible the creation of 600 additional jobs in other areas of the economy. Investment will start if Vattenfall is chosen as the strategic investor in GZE. Attracting foreign investments into the region to create new jobs is only one of the aims of the programme. The other two aims concern the development of industrial companies operating in Silesia and the setting up of small and medium size companies by young people in the region. Vattenfall wants to help Silesian entrepreneurs to export their products to Scandinavia and promote cultural and scientific exchange. The programme created interest among representatives of Silesian authorities and economic organisations, whose participation in the execution of the programme is necessary. The Swedish Government also supports this Programme. Vattenfall guaranteed in its investment proposal that it will allocate funds into promotion of the programme. It also undertook to organise additional financing of the programme, including financial aid from EU and other European institutions. Vattenfall has experience in execution of economic development programmes in Scandinavia, which have successfully established co-operation between Swedish companies and American, British and German companies, creating many new jobs. Issued by Vattenfall's Press Office, telephone +46 8 739 50 10. For further information, please contact: Torbjörn Wahlborg, President of Vattenfall Poland, telephone +48 602 364 920, Tadeusz S. Staszewski, Business Development Manager, telephone +48 604 428 333. Vattenfall is one of the largest energy companies in Europe, accounting for 25 percent of total electricity sales in the Nordic region. The total electricity generation is 85 TWh. Vattenfall is a leading operator of regional and local distribution networks serving 1,1 millions customers. The Group also conducts operations in the areas of heating and natural gas, as well as transmission services and consulting for the energy sector. Vattenfall's biggest customers are energy companies, industrial enterprises, and retail customers in the Nordic region. Vattenfall is also active in the Baltic countries, Germany, the Netherlands, Poland, the Czech Republic, Austria, Southeast Asia and South America. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2000/10/16/20040817BIT20540/wkr0001.pdf