VERBUND: Negative Share Price Development fundamentally not justified

2/2/2000Wien

The negative price performance of the past few days is not in line with the company’s fundamental development.

The operative trend of the first 9 months of the past business year has continued also in the last quarter, as expected.

In the 4th quarter, additionally an agreement with the Vorarlberg Illwerke on premature termination of a long-term power purchase contract could be achieved. The positive effect derived from the termination of the contract amounts to +475 million ATS/+34.52 million EUR for VERBUND in the past business year.

The final figures of the 1999 year-end results will be published as scheduled, on February 22, 2000.