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Atel and EGT establish energy trading company

On 8 November 2001 Atel Energie AG of Offenburg and EGT Energie GmbH of Triberg completed the notary formalities for establishing a new company named EGT Energiehandel GmbH, with headquarters in Triberg.

The company has a share capital of 1 million, with 50% stakes held by Atel and EGT respectively. The company's purpose is energy trading and provision of energy services. This joint undertaking synergises Atel's and EGT's core competencies of international electricity trading, risk and portfolio management, sales and marketing, and energy services. The new company's activities will initially concentrate on EGT's sales territory in southwestern Germany, which already has a highly developed subsidiary network. Customers will benefit from energy supplies that are optimised via the European wholesale market, plus a wide range of energy services.

About Atel Energie AG: Atel Energie AG is the German energy subsidiary of Aare-Tessin Ltd. for Electricity (Atel), based in Olten, Switzerland. Its primary business is selling energy and services to energy retailers and industrial customers. Its Power Alliance(tm) sales brand encompasses service packages for municipal energy providers and regional suppliers.

About EGT Energie GmbH: EGT Energie GmbH is among Germany's foremost-ranking energy supply companies and is the energy division flagship of EGT Holding AG. The company recently initiated an ongoing program to expand its market presence in the electricity, natural gas and heating sectors. In addition to its traditional customer base in the Black Forest area of Germany, EGT now supplies electricity to numerous predominantly medium-sized industrial and commercial companies throughout the province of Baden-Württemberg. With its EGT Power-Pack(tm) service package, EGT has boosted electricity sales to approx. 240 million kWh, up more than 20% since liberalisation.