Press releases pg. 165

The decision of the Economic Competition Protection Authority (ĂšOHS) concerning the CEZ memorandum enabled the transfer of the equities in regional distribution companies and CEPS, a. s., thus launching the establishment of new CEZ Group, as of April 1, 2003.

Today's extraordinary general assembly of Stredoceska energeticka a.s., a regional power company, appointed new members of company Supervisory Board, who are in favour of the merger between CEZ and regional distributors.

Even in the second round of a tender, the CEZ Power Company did not choose a new owner of Dvur Kralova heating plant. The tender was cancelled because all the offers were too low to be accepted.

According to the International Financial Reporting Standards (IFRS), CEZ Power Company Group generated a net profit of 8.4 billion CZK in 2002 and 9.1 billion CZK in 2001.