Passing the baton at ATEL

At a meeting held yesterday, the Board of Directors of Aare-Tessin Company Ltd. in Olten was informed that its long-serving Chairman, Prof. Angelo Pozzi, would not be standing for re-election when his current term of office ends at the 1999 Annual General Meeting.

The Board of Directors elected the Chief Executive Officer, Dr Walter Buergi, as its new Chairman, his term of office beginning at the 1999 Annual General Meeting. Dr Buergi will hand over his responsibilities as Chief Executive Officer of the Atel Group to his successor when he assumes his new role.

The new Chief Executive Officer of the Atel Group appointed by the Board of Directors is Alessandro Sala and he will assume his new role at the 1999 Annual General Meeting. Mr Sala is currently a member of the Executive Committee and responsible for the Energy Technology and Energy Business West divisions.

Aare-Tessin Ltd. for Electricity Corporate Communications