EWE welcomes decision by the city of Bremen

Negotiations to increase share in swb becoming more concrete

Oldenburg, Germany, 2 April 2009 The Oldenburg-based utility company EWE welcomes the decision by the city of Bremen to collaborate with EWE as it continues the process of purchasing the shares in swb AG, Bremen. "We want to keep the majority of swb shares in the economic region of north-western Germany. This makes us the ideal partner for the city," Dr. Werner Brinker, CEO of EWE, said today. He went on to say that EWE and swb complemented one another perfectly and that their joint development over the past six years laid solid foundations for a closer partnership. The city of Bremen and EWE both aimed to further develop the two companies in the interests of the region, he continued. "Just like the senate, we endorse a regional solution. The only way to achieve that is if EWE acquires the majority shareholding in swb."

EWE had indicated early on that it had a strong interest in the swb AG shares available for sale. Intense discussions were subsequently held with the city of Bremen over the past few weeks. "The talks were very fair and open and therefore form a good basis for closer cooperation," emphasised Dr. Brinker. He maintained that a partnership offered the best opportunity to find an ideal solution for the city of Bremen, swb's employees and customers and the economic region as a whole. "With its pre-emptive rights, Bremen has several aces up its sleeve," Dr. Brinker continued. "We are determined to play our cards right together."