Press releases pg. 73

The demand for electricity has increased in the period from this January till April by 2.3 % (by 431GWh) compared with the same period in the last year, up to 11,117 GWh, continuing the trend from the first quarter when the demand had increased by 2.3 %. In April alone the demand increased by 2.4 %. The growth of consumption occurred in the first four months in the industry where the annual growth was 6.3 %.

According to Article 15, Paragraph 4 of CEZ Articles of Association, the Board of Directors may appoint (co-opt) substitute members pending the next general meeting providing that the number of its members elected by the general meeting did not drop below a half.

The process lasting for several months of preparation for the five-year, syndicated guaranty amounting to EUR 85 million in favor of the European Investment Bank (EIB) was completed this 28th April by ceremonial execution. The guaranty's arranger was The Sumitomo Bank, Limited, Japan. The annual guaranty fee will be 0.55 %. In addition to the Sumitomo Bank, Limited, the guaranty involves seven other banks.

"CEZ has generated for the first quarter of this year the profits after taxes amounting to CZK 2,937 million, i.e. more by 268 % compared with the preceding year. This considerable growth is due mainly to the favorable development of provisions for exchange-rate variances. Whereas the development of the rate of exchange decreased in the first quarter of the last year our net profits by CZK 1.6 billion..."