Alpiq Group reorganises

Alpiq Holding Ltd. is realigning its legal structure with retroactive effect to 1 January 2010. This will be done as part of the integration of the former Atel and EOS. In future, the legal structure of the Alpiq Group will be aligned according to the operating divisions.

With the integration of the Atel and EOS groups largely implemented by the end of 2009, this has necessitated a realignment of the legal units within Alpiq Holding Ltd. In 2009, Aare-Tessin Ltd. for Electricity (Atel), now Alpiq Ltd., and Energie Ouest Suisse (EOS), now Alpiq Suisse SA, were brought under the Alpiq Holding Ltd. umbrella. Retroactive to 1 January 2010, the Group's legal structure will now be realigned and structured in line with the Group's organisation. The Alpiq Group's operating business is carried out by the existing business divisions and conducted by the following six subholdings of Alpiq Holding Ltd.: Alpiq Ltd., Alpiq Suisse SA, Alpiq Western Europe S.à r.l., Alpiq Central Europe Ltd., Alpiq Deutschland GmbH and Alpiq InTec Ltd.

Energy Switzerland spread over two companies The Energy Switzerland business division is divided into Alpiq Suisse SA and Alpiq Ltd. Alpiq Suisse SA, formerly Energie Ouest Suisse (EOS), retains those interests of the Energy Switzerland division which were assigned to Energie Ouest Suisse (EOS). Alpiq Ltd., formerly Aare-Tessin Ltd for Electricity (Atel), retains those interests of Energy Switzerland which were affiliated with Aare-Tessin Ltd. for Electricity.

Trading operations will continue to be assigned to the legal entities Alpiq Ltd. and Alpiq Suisse SA on the basis of existing framework agreements. In the medium term Alpiq is planning to consolidate the operations and trading companies of the Trading unit in a separate company.

The activities of the Energy Western Europe division will be assigned to Alpiq Western Europe S.à r.l., and those of the Energy Central Europe division to Alpiq Central Europe Ltd. The German activities of the Energy Central Europe and Energy Services divisions are combined under Alpiq Deutschland GmbH. All non-German activities of the Energy Services division will remain assigned to Alpiq InTec Ltd.

The subholdings Alpiq Western Europe S.à r.l., Alpiq Central Europe Ltd., Alpiq Deutschland GmbH and Alpiq InTec Ltd. will be transferred from Alpiq Ltd. to Alpiq Holding Ltd. at their carrying values following the realignment.

In addition, the activities of Corporate Center will be combined under Alpiq Management Ltd.