euro adhoc: EIC Electricity SA / Annual & Special Corporate Meetings / EIC Electricity SA Annual General Meeting (E)

Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.

The General Assembly of the investment company EIC Electricity SA has accepted all propoals of the board. The principal implication is a comprehensive restructuring of the company. EIC Electricity SA will disburse CHF 51.85 per share in the form of shares in an open-ended investment fund, which is to be founded. The shares in the fund can be traded at their net asset value daily without any repurchasing commission. With the distribution of the fund completed, EIC Electricity SA will become a pure private equity company. The board of EIC Electricity SA is composed by the previous board members including Peter Giller (Chairman), Guillaume Pictet and Markus Ruffner.The board announced that it is currently evaluating different strategic alternatives for EIC Electricity SA. The board envisages to commit itself to one of the different strategic options by mid 2003.

EIC is listed on the Swiss Exchange (SWX) and on the Frankfurt Securities Exchange (Bloomberg: EIC SW Equity / EIV GR Equity). The company is specialized in investments in power generation, transmission, trading and distribution. For further inquiries please contact: Dominique Candrian, EIC Partners AG, Phone: +41 43 844 10 02.

Further inquiry note:
Herr Candrian Dominique, Tel: 0041-43-844 10 02
Tel: +41(0)22 849 06 06
FAX: +41(0)22 849 06 10
Email: info@eicpower.com

end of announcement euro adhoc

Emittent: EIC Electricity SA
P.O. Box 6225, Route de Frontenex 62
CH-1211 Genéve
Tel: +41(0)22 849 06 06
FAX: +41(0)22 849 06 10
Email: info@eicpower.com
WWW: www.eicpower.com
ISIN: CH0007162958
WKN: 940179
Indizes: Investment Index (IGSP)
Börsen: official dealing Frankfurter Wertpapierbörse, SWX Swiss Exchange
Branche: Electricity Production & Distribution
Sprache: Englisch

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