VERBUND: Negative Share Price Development fundamentally not justified


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.