EDF does not hold a majority stake in EnBW

Karlsruhe, Germany 26.04.2002 (ots/PROTEXT) - According to areport by press agency AFP issued today, Electricité de France(EDF) has acquired a further 34.5% of OberschwäbischeElektrizitätswerke (OEW) voting rights in EnBW and now has 69%control of voting rights in EnBW. This assertion is untrue. BothOEW and EDF hold 34.5% of voting rights in EnBW.

Following the sale of the Land EDF share to EnBW, OEW and EDFhad arrived at a shareholders' agreement in 2000 regarding thejoint and co-ordinated exercise of voting rights arising fromEnBW shares. This resulted in OEW and EDF jointly applying for amerger inspection procedure at the EU Commission in Brussels,which was accepted in an exemption decision by the same body on07.02.2001, enabling EDF to acquire the Land share.Consequently, OEW and EDF disclosed their possession of EnBWshares in March 2001 to EnBW under the provisions of thesecurities transactions law and EnBW has subsequently releasedthese reports into the public domain.

Under the securities transactions law, the voting rights ofOEW and EDF, each of which are consortium partners, are ascribedto the other party. For this reason both OEW and EDF reported anattributable 69% voting share in EnBW during April 2002. Thereport no doubt originated because of the recent amendment to thesecurities transactions law, which entered into effect on01.01.2002, requiring disclosure of any shareholdings exceeding5% in any listed German joint-stock corporation with regard tothe annual accounts of the undertaking. Notices of shareownership received by EnBW under the above requirement fordisclosure were published in today's edition of the "SüddeutscheZeitung" - in accordance with EnBW's legal obligation to do so.Such reports indicate the true status of share ownership inEnBW, which have remained unchanged since spring 2001.

EnBW Energie Baden-Württemberg AG UnternehmenskommunikationDurlacher Allee 93 76131 Karlsruhe Tel: +49 (07 21) 63-1 43 20Fax: +49 (07 21) 63-1 26 72 unternehmenskommunikation@enbw.comwww.enbw.com

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