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Vattenfall Treasury (BM93)

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Monday 12 November, 2001

Vattenfall Treasury

Business Plan

Vattenfall Treasury AB
9 November 2001


                             Plan announced for 
                             integration of
                             German power companies

                             The newly-formed German power group 'Neue Kraft' 
                             and its majority shareholder, Vattenfall AB,       
                             presented in Berlin today an overall business plan 
                             for the Group.


'Neue Kraft', which consists of the companies HEW, Laubag and Veag, will be 
organised in a holding structure with a central holding company and business 
units in line with the value chain of the energy operations. The Group will 
concentrate on the core areas of electricity and heat.


'With Neue Kraft, a joint company is being formed from the three parts; HEW, 
Laubag and Veag. The business areas in the integrated group will range from 
mining and generation, to network operations in eastern Germany and trade with 
private Customers in Hamburg,' explained Dr. Klaus Rauscher, Chairman of 
Vorstand (the steering group) at HEW, to journalists in Berlin.


As Chairman, Klaus Rauscher will lead Neue Kraft during the integration process.
After the merger, he will head the holding company's steering group. The process
of joining and restructuring will be finalised by the end of 2002.


Already by the end of 2001, Klaus Rauscher will have begun his leadership of the
Group holding company and the individual corporate units. The corresponding 
business plans for the business areas shall be ready during the first quarter of
2002.


The overall plan makes it possible for the electricity supplier Bewag in Berlin 
to join up later, said Dr. Rauscher


'Vattenfall and HEW have always emphasised that the door will always be open for
Bewag. This applies in the future too; Bewag can quickly be integrated into the 
overall plan.'


HEW and Mirant each own a 44.8 per cent stake in Bewag.

From Vattenfall's Press Office, tel: 08-739 50 10.

For further information please contact:
Karl Olsson, Vattenfall, tel. 070-538 81 38 
Martin May, Vattenfall, tel. +4940-374722-14, [email protected]


Vattenfall's vision is to be a leading European energy company. 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 and heat. The Group's net sales in 2001 are estimated to over 
SEK 60 billion. For more information, see www.vattenfall.com  



                                                                                
                         

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