Change at board of directors at EnBW Energie Baden- Württemberg AG

EnBW finance director Dr. Reinhard Volk asks supervisoryboard to relieve him of his duties

Successor to be appointed shortly

Karlsruhe 31.05.2002 (PROTEXT/ots) - There has been a changein the make-up of the EnBW Energie Baden-Württemberg AG board ofdirectors. Dr. Reinhard Volk has asked the supervisory board torelieve him of his duties. Dr. Volk has been responsible forfinance at the company since 1st December 2000. According to EnBWin an announcement published on Wednesday, the relevant body hascomplied with his request which comes into effect on 30th June2002.

Dr. Volk took up his position at EnBW against the backgroundof the planned stock market flotation. He quickly prepared thecompany for the demands of the capital markets. During Dr.Volk's term of office, a convertible bond was launched withgreat success, in addition to the highly successful placement ofa large bond on the international capital markets as part of anEMTN programme. EnBW also received a very positive rating frominternationally renowned ratings agencies at the end of the yearin association with this bond. EnBW, in conjunction with itsmajority shareholders EDF and OEW, decided in January topostpone the flotation indefinitely due to the general mood onthe stock market.

The chairman of the EnBW board, Gerhard Goll, explains, "Weregret Dr. Volk's decision. Dr. Volk tackled and achieved agreat deal during his time here." Mr Goll expects the name ofDr. Volk's successor to be announced shortly.

EnBW Energie Baden-Württemberg AG

EnBW Energie Baden-Württemberg AG Corporate communication Press release Durlacher Allee 93 76131 Karlsruhe phone: +49 (0721) 63-1 43 20 fax: +49 (07 21) 63-1 26 72unternehmenskommunikation@enbw.com www.enbw.com

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