MVV Energie AG Acquires Majority Share in EVO

Offenbach/Mannheim, June 21, 2000 -MVV Energie AG in Mannheim has acquired a majority share in Energieversorgung Offenbach AG (EVO) retroactive to January 1, 2000. The city council passed a corresponding resolution on Wednesday, June 21, 2000. According to this resolution, the Mannheim energy distributor and energy-services provider was given the nod for 50 % plus one share of EVO's stock.

In fiscal year 1998/99, MVV had sales of DM 1.1 billion and an EBIT of DM 184 million. In 1999, EVO grossed DM 400 million in sales with an EBIT of DM 54 million. By 2004/2005, sales and EBIT of the MVV Energie Group are expected to increase by one-third.

The two partners, whose legal frameworks call for them to continue to operate independently of one another, have direct access to approx. 350 000 customers in the Rhine-Main and Rhine-Neckar metropolitan areas. MVV Energie AG's Europe-wide energy trading as well as its extensive portfolio of value-added energy services will be instrumental in supporting EVO in expanding the Rhine-Main region as a strategic platform, especially in the segment of medium-sized, commercial and industrial businesses. Part of the sales activities will be centered on EVO's venue. For this reason, sales billing and MVV's call center will be moved to Offenbach. By making use of joint cost-management, the two partners intend to create significant cost-cutting synergies that are expected to be in the range of eight figures.

This majority share in EVO is part of MVV Energie AG's growth strategy and will strengthen both the competitive edge as well as the demand leverage in the core business of this nationally and internationally active multi-utility.

Contact:
MVV Energie AG
Investor Relations
Luisenring 49
68159 Mannheim, Tel.:++49(0)621-290-3708
Fax: ++49-(0)621-290-3075
E-Mail: ir@mvv.de
Internet: www.mvv-investor.de