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Friday 05 October, 2001

Vattenfall Treasury

Re HEW Directorate

Vattenfall Treasury AB
5 October 2001


Dr Klaus Rauscher appointed Managing Director of HEW

At its meeting on Thursday 4 October 2001, the Board of Hamburgische 
Electritictats-Werke AG (HEW) appointed Dr. Klaus Rauscher as Managing Director 
of the company.

The Board of HEW appointed Dr. Klaus Rauscher in conformity with the proposal 
from its Chairman, Mr Lars G. Josefsson, Vattenfall's President and CEO. (See 
press release from Vattenfall, 25 September 2001.) Dr. Rauscher will take up his
duties on 1 November.

In his function as Managing Director of HEW he will also lead the integration 
process for HEW, VEAG and LAUBAG, and thus the development of the 'Neue Kraft' 
(New Force) being created on the German energy market to form what will be the 
third largest energy company in Germany.

'Neue Kraft has no time to lose. This work will now proceed with new vigour. The
appointment of Dr. Rauscher as Managing Director of HEW is another significant 
milestone along the way. As I have pointed out before, the new head of Neue 
Kraft must above all act with integration in mind. I believe that in Dr. 
Rauscher we have found just the manager we need,' commented Lars G Josefsson.

From Vattenfall's Press Office, telephone: +46-8-739 50 10.

For further information please contact:
Karl-Erik Olsson, Press Director, Vattenfall, 
telephone: +46-8-739 75 83, mobile +46-70-538 81 38.


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 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, heat 
and natural gas, as well as network consulting and maintenance services. The 
Group's net sales in 2001 are calculated to around SEK 70 billion.


                                                          

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