Mr David Svojitka has been appointed the CEZ executive director for finances and administration

Yesterday, the Board of Directors of CEZ Power Company appointed Mr David Svojitka the executive director for finances and administration of the company, as of October 15, 2002. Mr Petr VoboĹ™il, the previous director of this section, was appointed the head of the strategic development section, as of October 1, and remains the deputy CEO of the company.

CEZ now consists of four sections: the section for strategic development (whose Executive Director is Petr VoboĹ™il), the section of finances and administration (executive director David Svojitka), the commercial section (Executive Director Pavel Hejkal) and the section of the traditional power industry (Executive Director Pavel Klika). As of January 1, 2003, a new section will be added to this group. This new acquisition the nuclear power section will be responsible for both nuclear power plants and all activities related to the CEZ-operated nuclear power industry. If the Czech Economic Competition Protection Authority approves the planned merger between CEZ and the distribution companies, we may expect further adjustments of the organisational structure of CEZ as a result of this interconnection.

Mr David Svojitka was born in Prague in 1961, from 1968 to 1991 he lived abroad in the USA and Germany. He graduated from JuliusMaximilians-UniversitĂ¤t, WĂĽrzburg, Germany, where he majored in politics and finances. From 1987 to 1989 he worked in Hornblower Fischer AG, Frankfurt. From 1989 to 1991 he worked in Vereinsbank AG, Munich, where he was a member of the DTB team responsible for establishing the e-commerce system of trading financial derivates on the German market, which was the first system of its kind in the world. From 1991 to 2000 he worked in Vereinsbank (CZ) and from January 1999 in HypoVereinsbank (CZ), a. s. functioning as one of the founding members of the bank and from October 1996 also a member of the Board of Directors, specifically responsible for Treasury/Financial markets and internal administration. Between 2000 and 2001 he was a member of the Board of Directors and the Deputy General Director of the Commercial Bank, charged with the task of developing and marketing products and supporting segments, but also responsible for direct banking. He was a member of the top management of the company, which successfully carried out the privatisation process of the bank. The privatisation process was completed in the middle of the year 2001. Before his arrival in the CEZ Power Company he ran his own business as a developer.

David Svojitka is married and has two children.

Ladislav Kriz, tiskovy mluvci CEZ

4. 10. 2002