EnBW Energie Baden-Württemberg AG - 2002 General Shareholders Meeting Close Customer Links and Growth through Partnerships as the Model of Success for the Futu

KARLSRUHE. In 2002 EnBW Energie Baden-Württemberg AG is alsorelying on its partnership concept to secure its competitivenessand viability for the future. This was emphasised by GerhardGoll, Chairman of the Board o EnBW has already been successfulwith its partnership concept over the last few years. This canalso be seen from the performanc So last year EnBW deliberatelyopted for a strategic partnership with EDF. Since February 2001the largest electricity supplier

According to Gerhard Goll the most important event in 2001was the development of the partnership with NWS NeckarwerkeStuttgart AG. NWS is a good example of the network set up by EnBWwithin Baden-Württemberg and The 29.9% stake in StadtwerkeDüsseldorf AG and the setting up of the joint subsidiary ENRWGmbH are also in line with EnBW's strategic direction to givepriority to co-operative partnerships. The agreed partnershipconc Not content with this, EnBW has managed to gain a footholdin the attractive Spanish growth market by taking a stake in thefourth largest Spanish company, Hidrocantábrico. Together withthe other shareholders, EDP and C Hidrocantábrico. Gollemphasised that he was happy with the new ownership team ofHidrocantábrico. Goll referred to the involvement of EnBW inSwitzerland. The exchange of a 24.5% stake in Watt AG with a 100% Goll emphasised that the various partnerships and stakes inother companies had the common aim to win more and more newcustomer prices. EnBW will continue with this successfulstrategy. In this connection special note should be taken thisyear of the expan Despite a difficult overall economic situation,the economic situation of EnBW is very promising. Goll referredto strong growth

EnBW also showed growth in its core business of electricityin all customer areas. Total electricity turnover after deductionof Goll found it especially encouraging that internationallyreputable rating agencies had given EnBW excellent ratings. Therating.

EnBW Energie Baden-Württemberg AG Company communication76131 Karlsruhe Tel: +49 (07 21) 63-1 43 20 Fax: +49 (07 21) 63-126 72 unternehmenskommunikation@enbw.com www.enbw.com

Subscribers please note that material bearing the slug"PROTEXT" is not part of CTK's news service and is not to bepublished under the "CTK" slug. Protext is a commercial serviceproviding distribution of press releases from clients, who areidentified in the text of Protext reports and who bear fullresponsibility for their contents.