VERBUND tendering for Energie AG OÖ


Today, Wednesday, VERBUND submitted a bid for Energie AG on time, documenting its intention to join Energie AG OÖ in the framework of an industrially clean solution, which will strengthen both companies.

"With our bid we would like to have a possibly last go for an Austrian power solution“, Mr. Hans Haider, Chairman of the VERBUND Board of Management explained the motives of VERBUND.

Due to the competitive situation around VERBUND’s participation in Energie AG OÖ no details of the tender can be disclosed. It was made clear, however, that VERBUND is submitting the bid alone, without any partner. However, other partners from the Austrian power industry are also invited to participate. The third partner of the Energie Austria project, EStAG, can be integrated via co-operations and management.

VERBUND is convinced that the existing synergy potentials, which were ruined when Energie Austria was prevented by the consortium consisting of EVN, Wienstrom and Tiwag, can only be used by a close collaboration, not by loose co-operations.

Everything will be done to use at least part of the enormous synergies Energie Austria would have led to, and to realize them for the benefit of both companies’ shareholders and the customers.

As already provided for in the concept for Energie Austria, Energie AG OÖ shall be responsible for marketing and distribution. The production capacity of the two companies is to be bundled in a joint corporation. Since the appropriate models were already developed in the framework of the formation of Energie Austria, they can be implemented quickly when the offer is accepted.

The VERBUND tender offers the possibility to create an Austrian power solution around Energie AG OÖ and VERBUND; the participation of the companies in Salzburg AG and Kelag as well as Steg are especially important. Moreover, the solution is open for additional Austrian partners.

"Our goal is that finally Austria will have an internationally competitive power group which is to be reckoned within the European concert of power giants", Mr. Haider concluded.

For further information:

Andreas Morgenbesser, Investor Relations

Tel: (+43-1) 53113 - 52630

Fax: (+43-1) 53113 - 52638