Ad-hoc-notification according to § 82 Abs 7 BörseG

4/21/2009

EVN today informed the Republic of Macedonia that it is contemplating to initiate arbitration proceedings according to the "Treaty between the Republic of Austria and the Republic of Macedonia on the Promotion and Protection of Investments" and the "Energy Charter" in order to protect its investment in connection with the acquisition of 90% of the shares of EVN Macedonia AD, the only electricity distribution and supply company. The reasons for informing the Republic of Macedonia of contemplating to initiate arbitration proceedings are due to various actions taken by the Republic of Macedonia and other public-sector entities against the EVN Group relating to EVN's activities in the Republic of Macedonia. In particular, this relates to claims for unpaid electricity supply during the time prior to the privatization (1995-2004) in the amount of up to EUR 93 million plus interest, in relation to which court proceedings have been initiated against EVN Macedonia AD; such proceedings are contrary to the share purchase agreement with the Republic of Macedonia. Should these actions not be terminated immediately, EVN will initiate arbitration proceedings according to the above-mentioned Treaties for the protection of its investments in the Republic of Macedonia. The arbitration proceedings are particularly aimed at ensuring the Republic of Macedonia's compliance of its obligations under applicable Investment Treaties. In addition, the initiation of arbitration proceedings against the Republic of Macedonia also serves as a precautionary measure against the court decision of first instance relating to the the above-mentioned subject matter.