Atel to adjust its organisational structure

Atel Group is adopting a new management and organisational structure as from 1 January 2005. The new structure takes due account of the company's strong growth in recent years and is consistent in its market orientation. Group functions in the areas of financial services and management services will also be strengthened.

Atel Group has enjoyed significant growth in recent years and will expand even further. This necessitated certain adjustments to the organisational structure, which have been approved by the Board of Directors of Atel Group at its last meeting. 

Consistent market orientation  The new organisational structure will apply to the entire group and is consistent in its market orientation. The Energy and Energy Services segments will remain separate in organisational terms. The Energy Services segment will continue to be an independent division, consisting of the business units Southern/Western Europe region (Atel Installationstechnik Group) and Northern/Eastern Europe region (GAH Group). The new Energy segment will have three divisions: Energy Southern/Western Europe, Energy Northern/Eastern Europe and Energy Switzerland. This will strengthen the Group's market orientation and will also take account of the liberalisation of the Swiss electricity market. For functional purposes, the individual divisions will be divided into the business units Market (includes the distribution, trading and supply of energy), Trading, Power Generation, Grids and Settlement and Systems.  

Group functions reorganised and strengthened  The group functions will be reorganised and anchored more strongly. A new functional area, Management Services, will be created in addition to the existing functional area Financial Services. The Financial Services functional area will be headed by the CFO and is essentially responsible for all financial activities. Together with the Management Services functional area it will provide management support to the CEO and specialist support to the divisions. 

Seven-member Executive Board The Executive Board will consist of the CEO, the division heads and the heads of the functional areas, i.e. a total of seven members. The new organisational structure will be implemented on 1 January 2005. It will already apply to the functional areas with effect from 1 November 2004.

Aare-Tessin Ltd. for Electricity Corporate Communications