CEZ Group

The ČEZ company informed today about the intention to support the development of electromobility in the Czech Republic. As one of the first European power companies it shall launch a pilot project including a development of infrastructure necessary for wider utilisation of electric-powered vehicles. Lending the electric-powered vehicles to non-profit organisations is also a part of the pilot project.

Today the consortium of Severoceske doly Chomutov, member of the CEZ Group and the J&T Group took over 100 % share in the German mining company MIBRAG. The total transaction value reached EUR 404 mil.

Power company CEZ became owner of 76% of shares of the only Albanian distribution company (OSSH) today. CEZ was selected as the winning bidder by the tendering commission already in October 2008, the privatization contract was signed by the government of Albania and CEZ in this March. CEZ paid 102 millions EUR for the majority interest in the OSSH company.

Prague, May 29, 2009 – Today, in honour of the 4th session of the European Nuclear Forum, the representatives of JAVYS and CEZ energy companies have signed the shareholder agreement that will allow establishing a joint venture for building of a new nuclear power station at Jaslovské Bohunice, Slovakia.

The general meeting of shareholders of power engineering company ČEZ elected new members of the Supervisory Board Vlastimil Jiřík and Miloš Kebrdle yesterday. The general meeting also withdrew Tomáš Hűner and Josef Janeček from the Supervisory Board.

The CEZ Energy Group achieved a net profit in the amount of 17.2 billion CZK in the first quarter of this year after adjustment for methodical and temporary effects. It is an interim increase by 9 % per cent. Including these effects the net profit for the mentioned period was 19.4 billion CZK. In particular, sale of electric power contributed to the increase of the net profit. For example distributed reserves for emission permits or revaluation of MOL shares belong among the mentioned temporary effects (from which some will be compensated by the end of the year). Despite the overall drop of electric power consumption due to the continuing economic crisis, there still is an interim improvement of income. These factors, however, will be affected with the annual income. We expect the annual net profit on the level of 50.2 billion CZK.

The management of ČEZ has approved the business plan concerning the new 800 MW steam-gas power plant in Mělník. The intent of this project is to build a power plant which will be also ready to replace the output of the coal-fired sources situated in this location and approaching the end of their useful life in the near future. The current units will be gradually shut down in the period after 2015.

The international acquisitions of the ČEZ Group have created accumulated net profit amounting almost to 10 billions CZK since the time of their procuration. The EBITDA index has achieved more than 23 billions CZK in the same period.

In accordance with the binding dividend policy, at yesterday’s meeting the Board of Directors of the power company ČEZ decided on a proposal of the sum of the dividend from the last year’s profit to be submitted to the General Meeting of Shareholders which will be held on 13 May 2009. The Board of Directors will propose a gross dividend amounting to 50 CZK per share.

The CEZ Group has signed a contract for the purchase of 100 % shares of the company CZECH HEAT, a. s., from its existing owners. The company owns an own combined source for production of electricity and heat by clean combustion of biomass in Jindřichův Hradec. The produced heat is supplied mainly to central distribution systems of the town of Jindřichův Hradec.