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Vattenfall Treasury (BM93)

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Monday 02 July, 2001

Vattenfall Treasury

Re Agreement

Vattenfall Treasury AB
2 July 2001


Change in ownership of SwedPower International AB

SWECO and Vattenfall have agreed to terminate their collaboration in the
jointly-owned company SwedPower International.

SWECO's subsidiary company SWECO Energuide AB and Vattenfall AB have for many
years conducted consulting operations in electrical power technology outside
Sweden through SwedPower International AB. The companies have now agreed to
develop operations separately, under their own auspices.

This means that SWECO is withdrawing from SwedPower International in order in
the future to run operations abroad in the area of electrical power under its
own name. Vattenfall will continue to run its consulting operations abroad
through SwedPower International, which becomes a wholly-owned subsidiary in the
Vattenfall Group.

SWECO Energuide will conclude its current assignments in SwedPower
International's name.

'The change is a natural step in creating greater flexibility in the
international operations of both companies' say Jan-Inge Gidlund, President of
SwedPower International and Erik Severin, President of SWECO Energuide.

For further information please contact:
Jan-Inge Gidlund, President of SwedPower International, +46-8-619 60 00
Erik Severin, President of SWECO Energuide, +46-8-695 65 24

SWECO is the largest consulting company in Sweden in the fields of engineering,
the environment end architecture with 2 200 employees in nine companies: SWECO
FFNS, SWECO BLOCO, SWECO THEORELLS, SWECO Projektiedning, SWECO VBB VIAK, SWECO
Industriteknik, SWECO Position, SWECO Energuide and SWECO Connect. SWECO also
has extensive international operations throughout the world.  SWECO's share is
listed on the O-list of the Stockholm Stock Exchange.

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.    



                                                                                
                                                                        

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