CEZ Group

CEZ has stepped into the wholesale natural gas market by execution its first trade with this commodity today. Concretely CEZ has entered the UK NBP natural gas market through the ICE (InterContinental Exchange) in London.

Prague, August 27, 2008 – Yesterday evening, CEZ Group, the leading CE power utility, and Continental Wind Partners LLC, a major renewable power developer, concluded the sale of CWP’s adjacent Fantanele and Cogealac wind farms in Romania to CEZ. The two projects will together be the largest onshore wind farm in Europe, with a total capacity of 600 megawatts, approximately double the size of the next largest fully permitted onshore wind farm in Europe, and triple the size of the largest current operational wind farm in Europe. The total investment of the CEZ Group into the project will reach € 1.1 billion.

Beijing, China, August 17, 2008 – Chairman of the Board of Directorst and CEO of CEZ Martin Roman and Guo Zhenjun, General Manager of Hunan Liang Renewable Energy Power Co, have today, in the Czech Olympic House, signed an agreement about a purchase of emission reductions from a prepared biomass power plant project

CEZ Power Group reached a net profit of 29bn CZK in the first half of this year, which was a year-on-year increase of 38 percent, despite a negative influence of the strengthening crown. The growth was given by higher production with increasing share of cost-effective nuclear resources, increase in wholesale electricity prices, operating cost savings and the results of CEZ Group´s foreign activities. CEZ has also raised its full-year profit forecast to 48.6bn CZK.

The incorporation of the CEZ-MOL Joint Venture has been finished in line with the joint venture agreement between CEZ and MOL signed on 20 December 2007. CM European Power International is the first entity of CEZ-MOL Joint Operation with initial capital of EUR 8.3 mil.

CEZ wants to facilitate complex environmental impact assessment of a proposed completion of the Temelin Nuclear Power Plant, and therefore has today asked the Ministry of the Environment to carry out the EIA.

CEZ Power Company in consortium with a local Turkish partner has succeeded in today’s auction of the distribution company Sedas.

CEZ/MOL joint venture has already obtained all necessary rulings from relevant antimonopoly authorities. Positive statements from European Commission (May 2008) and authorities from Ukraine, Serbia and Bosnia and Herzegovina (June 2008) allow the setup of a JV company.

The consortium intends to bid for the Turkish Electricity Distribution Privatization Tender which includes two distribution companies - Sedas and Bedas. A submission of the binding bids is scheduled to take place on 10th June, 2008.

Yesterday's Annual General Meeting of Shareholders of CEZ Power Company approved an extension of the number of members of the Board of Directors from 5 to 6 and also established the position of the First and Second Vice-Chairman of the Board.