Change in Management

The Board of Directors of Aare-Tessin Ltd. for Electricity (Atel) has appointed Allan Walmsley as new Head of the Production, Northern/Eastern Europe business unit with effect from 1 January 2008.

Allan Walmsley appointed new Head of Production, Northern/Eastern Europe

Up to now, Allan Walmsley has been working for the Atel Group as General Manager of Csepel Businesses, in charge of Atel's power plants in Budapest. Steve Wolf, the current Head of Production, Northern/Eastern Europe, is leaving Atel at the end of 2007. The business unit is responsible for operation of Atel's power plants in central and eastern European countries. Currently Atel operates its own gas-fired combined-cycle and coal-fired power plants in Budapest, Kladno and Zlin.

Since 1998 Allan Walmsley has been responsible for the Csepel gas-fired combined-cycle power plant complex which was acquired by the Atel Group five years ago.

Aare-Tessin Ltd. for Electricity Corporate Communications