Press releases pg. 90

ČEZ has received bids from four bidders in its tender for the Sale of the Dětmarovice Power Plant. After examining the formal details of each of the bids, ČEZ has had to exclude a bid submitted by Česká energie from the tender. The bid failed to meet the tender requirements which, among other things, required the bidders to have a certain size and creditworthiness. The bid concerned did not guarantee a successful completion of the sale, which is required to fulfill the settlement with the European Commission should ČEZ decide to consummate the settlement agreement specifically by divesting its Dětmarovice Power Plant. The tender thus continues with three bidders: BXR, Energetický a průmyslový holding, and Gascontrol.

CEZ Group’s Total Sales grew by nearly CZK 12 billion year on year (up by 8%), reaching CZK 162.5 billion. Operating Profit Before Depreciation (EBITDA) rose by CZK 2.3 billion year on year (up by 4%), reaching CZK 64.7 billion. The Net Profit increased by CZK 7 billion year on year (up by 27%) to CZK 33.4 billion. The main cause of the profit growth was a greater volume of power generated in nuclear power plants, growing volume of energy generated by the Romanian wind parks, and extraordinary financial expenses in 2011. On the other hand, there was a negative impact of the developments in Albania, where our agreement on the gradual standardization of regulatory conditions was not honored by the Albanian regulatory authority and the Government.

Today at 8:35 a.m., ČEZ connected the 216th wind turbine to the grid, thanks to which the Fantanele-Cogealac Wind Farm in Romania, with an installed capacity of 540 MW, surpassed its rival in Scotland, and has thus become the largest onshore wind farm in Europe.

Comments made by third parties under the market test have shown no need to materially change the commitments proposed by ČEZ to the European Commission in June this year. Under the Settlement Agreement, ČEZ undertakes to sell one of five specific power plants with an installed capacity of at least 800 MW. The European Commission can be expected to make its final and legally binding decision in the matter in late November.