CEZ Group

CEZ power engineering company performed as of 31. 10. 2007 re-financing of the Polish Elcho power plant company to bring it in a better accordance with the long-term financial strategy of the CEZ Group and also to support the synergic effects in the form of financing costs savings.

Today, CEZ Power Company has submitted an offer in a tender to participate in the building and operating of nuclear reactors 3 and 4 at Romania's nuclear power plant Cernavoda.

Today, CEZ Power Company has submitted an offer in a tender to participate in the building and operating of nuclear reactors 3 and 4 at Romania's nuclear power plant Cernavoda.

Today the Supervisory Board of CEZ, a. s., has expressed positive attitude to the new organizational structure approved by the Board of Directors of the company. The new structure will better correspond with the character and extent of business and also with best practice of management of large international energy companies. The new management structure is a result of company´s programme “Effectiveness”, which has been commenced this year.

Today the CEZ Power Company sent in an indicative tender in the tendering procedure for the strategic partner in construction and operation of the nuclear power plant being prepared in Belene. The competition for up to 49 % share in Belene Power Company has been announced by the Bulgarian state power engineering company NEK which will also be the project partner.

Alan Svoboda has announced that the public prosecutor informed him about bringing his case of alleged law breach during purchase of securities of the company to court. At the same time Svoboda announced his resignation from the membership in the Executive Board representing the broad management of entire CEZ Group.

CEZ Group´s representative office will operate at the common location of Czech firms, offices and institutions in so called Czech House in Brussels, Rue du Trône 60.

At today's meeting, the Board of Directors of CEZ Power company has acknowledged the intention of Mr. Jiri Borovec, Vice-chairman of the Board and Executive Director for Power Generation, to leave the company as of December 31, 2007. Resignation from the position of Vice-chairman of the Board has to be acknowledged by CEZ's Supervisory Board.

CEZ Power Company has entered into a wholesale contract for supplies of electricity to Greece. Electricity will go primarily from the Romanian and Hungarian markets across the territory of Bulgary. CEZ Group has been present in all these countries for several years.

According to the recommendation of legal advisors, CEZ has today taken another legal step against Mostecka uhelna from the Czech Coal group enforcing fulfilment of long-term coal supply contracts for a modern power plant in the area of Pocerady concluded in 2005.