Edison closes the sale of its Polish water business (IWH)

Public disclosure required by Consob Resolution No. 11971 of May 14, 1999, as amended. IWH’s Remaining Business Include Operations in Scotland and Ecuador. The Polish antitrust authorities grant the authorization needed to complete the sale of this investment.

Milan, March 04, 2004 - International Water Poland BV, a company of the International Water Holding (IWH) BV Group (a joint venture of Edison Spa and Bechtel Enterprises) closed today the sale of its interest in International Water UU Holdings BV, a joint venture established by United Utilities and the European Bank for Reconstruction and Development (EBRD).
The transfer of the respective equity interest took place following the granting of the requisite authorization by the local antitrust authorities, which constituted a condition precedent for the performance of the sales agreement signed on December 20, 2003.

International Water UU Holdings is involved in the collection and distribution of water to residential users in the Polish city of Bielsko Biala.

The sale was completed for a lump-sum cash price of about US$2.7 million.

This divestiture will not have a material financial effect on Edison’s financial statements.

This transaction completes the divestiture of IWH’s operations in Eastern Europe.