Edison: net profit jumps to 500 million euros

Public disclosure required by Consob Resolution No. 11971 of May 14, 1999, as amended. Edison’s Board of Directors Reviews the Annual Report at December 31, 2005. The Board recommends the first dividend in four years: 0.038 euros per common share and 0.218 euros per savings share.

Milan, February 21, 2006 - Edison’s Board of Directors met today at the Company’s Foro Buonaparte headquarters to review the Annual Report at December 31, 2005. In 2005, the Group’s sales revenues totaled 6,650 million euros, or 18.2% more than in 2004. Net profit grew 41.2% to 500 million euros (354 million euros in 2004).

The results for 2005 and 2004 are being presented in accordance with International Financial Reporting Standards (IAS/IFRS).

Thanks to strong sales to customers in the deregulated market, an area in which the Group has established an important presence, the integration of activities portfolio and an improved operating and financial structure, Edison was able to build on the growth trend of recent years and reap the benefits of a successful growth strategy. In light of these results, which were achieved in a year characterized by challenging environment, the Board will recommend that the Shareholders’ Meeting declare the Company’s first dividend in four years.