EWE ENERGIE AG: Supervisory Board in favour of customer-friendly solution

Proposal to be drafted with independent representatives / Decision expected in late summer

Oldenburg, Germany, 9 August 2010. At its constitutive meeting today, the Supervisory Board of EWE ENERGIE AG expressed itself to be in favour of a quick decision-making process as regards EWE's reaction to the ruling of the German Federal Supreme Court on certain clauses contained in the terms and conditions of special-rate natural gas contracts. On the basis of a written opinion of the court that has now been made available, the Supervisory Board today took into consideration both customer and company interests, as well as analysing various possibilities. The Board recommends that a customer-friendly solution be presented in the coming weeks. EWE now intends to draft a proposal jointly with independent representatives. The aim is to develop a solution that avoids creating disadvantages for the asset position of EWE and its shareholders, takes the interests of the customers into account, and creates legal security.

"Our customers have placed their trust in us, and we intend to affirm this trust. We have no interest in entering into legal proceedings with our customers," emphasised Dr. Werner Brinker, who was today elected as Chairman of the Supervisory Board of EWE ENERGIE AG. As a result, EWE plans to find a pragmatic solution for its many loyal customers outside of the courts. A proposal is to be drafted in the coming weeks by a group of independent and company representatives. Certain individuals are to be approached for the purpose of putting together this working group. "I will promote a solution of this nature to the EWE shareholders," explained Dr. Brinker. He expects a decision to be taken by the end of the summer.

Due to the economic significance of a settlement being made to customers, the EWE shareholders themselves would have to decide on such a solution. For this reason, a meeting of the association committee of EWE-Verband is set to take place by the end of the month. As a minority shareholder, EnBW AG will also be involved in the decision-making process.

In the opinion of the German Federal Supreme Court, the clause regarding the adjustment of prices from 1 April 2007 was not valid. However, Dr. Brinker emphasised that the company continued to supply its customers with natural gas reliably and at low prices during this time as well.