VERBUND, Austria's leading electricity company and one of the leading

producers of electricity from hydropower in Europe, has in the past years

established a diversified portfolio of shareholdings in Austria and abroad

and has been evaluating measures to improve this portfolio on an on-going

basis. In the framework of such improvement measures VERBUND is in

discussion with an open outcome with other market participants, amongst

others, in relation to VERBUND's interest in Turkey. Subject matter of such

discussions is the assessment of several options which range from a

disposal of a shareholding to an acquisition of further shareholdings or

the further development of an existing shareholding. An assessment of these

options will be made according to strategic and economic criteria. As in

past instances VERBUND will inform the public accordingly should an option

become more specific.

 

VERBUND pursues the strategy to strengthen its position as one of the

leading producers of electricity from hydropower in Europe. The production

portfolio is supplemented by wind power and existing thermal plants.

Minority shareholdings are tested in relation to their strategic fit. Most

important markets are Austria and Germany, with the countries situated

between Austria and Turkey offering growth opportunities.

 

Adjustments of the shareholding portfolio which have already occurred are

the exit from the retail business in France and the disposal of minority

interests in non-strategic shareholdings, such as the Gletscherbahnen

Kaprun and the local service provider Energie Klagenfurt.