Press releases pg. 171

The representatives of the CEZ company and the SKODA PRAHA joint-stock company have signed an agreement settling their formerly unresolved disputes and defining their relationship.

CEZ, a. s. will issue its first batch of debenture bonds, worth three billion CZK, in the framework of the approved debenture programme. The issue is planned for 23 June 2003. The fixed interest rate was set at 3.35 % p.a. The bonds will be issued with a 100.05% rate of their nominal value. The issue is due in 2008.

CEZ and E.ON have come to an agreement concerning the exchange of their respective minority shares in Czech regional power companies.

Today´s extraordinary general assembly of Severoceska energetika a.s. (SCE) appointed new members of company Supervisory Board, who are in favour of the merger between CEZ and regional distributors..