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EVN TO TAKE OVER SUPPLY OF ELECTRICITY IN KEY AREA OF LOWER AUSTRIA

 VIENNA, Austria, Feb. 9 /PRNewswire/ -- The government of Lower Austria today announced that Energie-Versorgung Niederosterreich (EVN), one of Austria's leading energy utilities, will take over the electricity distribution rights for that part of Lower Austria currently served by the Viennese Electricity Authority (Wiener Stadtwerke).
 The area to be transferred is the most densely-populated and industrialized section of Lower Austria, representing 10 percent of the province's surface area but 30 percent of total power requirements.
 EVN is confident the transfer will generate substantial cost savings and that future profits will be further enhanced one linkage to the EVN distribution grid is completely in place and associated productivity gains achieved.
 Through this acquisition EVN's annual revenue is expected to increase by approximately 25 percent, rising from AS10 billion currently to AS12.5 billion.
 Full application of the appeals procedure could delay the final outcome of today's government decision by approximately two years.
 Commenting on today's decision, Dr. Gruber, chairman of EVN, said, "We are very happy with the decision and are keen to start negotiations immediately about take-over procedures."
 -0- 2/9/93
 /CONTACT: Dr. Wolfgang Christl or Carina Lafite-Rys of Energie-Versorgung Niederosterreich, 011-43-22-36-200-2400, or 011-43-22-36-200-2752, or Felicia Vonella of Dewe Rogerson Inc., 212-688-6840, or Andrew Dewar of Dewe Rogerson London, 011-44-71-638-9571, both for Energie-Versorgung Niederosterreich/


CO: Energie-Versorgung Niederosterreich ST: IN: OIL SU:

TS -- NY034 -- 4577 02/09/93 10:52 EST
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Publication:PR Newswire
Date:Feb 9, 1993
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