Merger of Atel and EOS

As part of the move to create Energy Group West, the consortium partners today proposed Hans E. Schweickardt, General Director of EOS Holding, as Chairman of the Board of Directors and Giovanni Leonardi, CEO of Atel Holding, as CEO of the future company. These nominations represent the first stage in the move to define the management team.

Under the terms of the consortium agreement signed in 2005, EOS Holding is entitled to propose the future Chairman of the Board while the consortium of minority Atel shareholders has the right to nominate the future CEO. These proposals will allow Atel and EOS to move forward with the new company and continue the corporate valuations required to create the Group by the end of 2008.

Hans E. Schweickardt is General Director of EOS Holding as well as Chairman of swisselectric, and has special expertise in the electricity sector in which he has worked since 1992. His Swiss and international experience of the business enables him to take a strategic view of developments on European markets: a key criterion for the future Chairman of Energy Group West.

Giovanni Leonardi has been CEO of Atel since 2004 and is a proven expert in the electricity field, in which he has worked since 1991. He is also highly experienced in the management and development of energy transactions on markets in Switzerland and Europe. These qualities will assure his success in implementing the objectives of the future Energy Group West. Hans E. Schweickardt and Giovanni Leonardi will take up their new offices following their election by the Board of Directors of the future company, which will come into existence in the second half of 2008.