Press Release

Romande Energie transfers maintenance of its hydroelectric installations

Romande Energie SA, the operating company of the Compagnie Vaudoise d'Electricité Group (CVE), will transfer the maintenance of its hydroelectric power plants to HYDRO Exploitation SA, the leader in its field in Western . This move by the number one energy provider in Canton will help strengthen a high-tech competence centre for these activities in the region.

Morges, 10 November 2005 -- Active in the production, distribution and marketing of electricity, Romande Energie must guarantee the highest quality maintenance for its production facilities. The transfer of these operations to the leading maintenance company in Western Switzerland will not only reinforce this competence centre, but also enable Romande Energie to make economies of scale and focus on its core business. The Group will ensure that this important venture is properly implemented and monitored.

The agreement between the two companies is targeted at long-term cooperation, and covers the following installations: La Dernier, Les Clées, Montcherand, , Rivaz, Sonzier, Taulan, Les Diablerets, Pont de La Tine, Les Farettes, La Peuffeyre et Vouvry. Romande Energie will retain ownership of these plants.

Synergies There are considerable potential synergies to be had from combining the extensive technical expertise of HYDRO Exploitation – a company which has received ISO 9001, ISO14001, OHSAS 18001 and EN 729-2 certification – with that of Romande Energie.

This agreement is also in keeping with Romande Energie’s overall objective of optimizing its work procedures and its structure in order to increase operational efficiency.

Transfer of staff in July 2006 For the employees of Romande Energie who will be transferred to HYDRO Exploitation, this is an opportunity for personal development and training The changeover will take place on 1 July 2006 and will not affect salaries. For administrative purposes, the people concerned will continue to be attached to the existing offices in either Aigle or Montcherand.

The transfer concerns all Romande Energie staff currently employed in hydroelectric power plant maintenance, with the exception of four employees who are taking early retirement. * * * * * * * * * *

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Note to editorial desks:

HYDRO Exploitation SA is a joint-stock company which commenced operations in 2003 and specializes in the maintenance of power plants managed by or belonging to Grande Dixence, EOS and FMV (Forces Motrices Valaisannes). It conducts its activities in the cantons of Vaud and Valais, where it employs 333 people and operates 28 installations extending from the Vallée de Conches to Lake .

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Contact:

Daniel Herrera Head of Communications Romande Energie

Phone: + 41 21 802 95 67 Mobile: + 41 79 250 74 94 E-mail: [email protected] Website: www.romande-energie.ch