Edison: sales volumes and operating results continue to improve

Public disclosure required by Consob Resolution No. 11971 of May 14, 1999, as amended. Edison’s Board of Directors reviews the preliminary results for the first half of 2004. Operating earnings before taxes up sharply compared with 2003, rising 52% to €175 million for the Group’s core businesses and more than doubling to €188 million for the Group as a whole.

Milan, July 28, 2004 – The Board of Directors of Edison Spa, meeting today at the 
Company’s Foro Buonaparte headquarters, reviewed the preliminary results of the 
Group’s operations in the first half of 2004. The Semiannual Report on Operations will 
be approved by the Board of Directors at a meeting scheduled for September 13, 2004.