Energie AG OÖ, EStAG and VERBUND resolve to sell their EVN-shareholdings

3/12/2001Wien

The break-up of the existing cross-shareholdings of the Austrian electric supply companies has been recommended repeatedly both in the public and by analysts. Energie AG OÖ, EStAG and VERBUND are now making allowances for those recommendations.

The three companies have resolved to put in for selling jointly and without time pressure their syndicated block of shares of approx. 27 % they are holding in EVN.

This step is supported by the fact that the Austrian partners of the consortium are quite obviously no welcome shareholders of the Lower Austrian power supplier, which also became apparent at the recent EVN shareholders' annual meeting.

In selling their EVN-shareholdings, EAG, EStAG and VERBUND will of course strictly adhere to the Stock Exchange Act and publish the required announcements on time.