Mannheim, August 15, 2001
- In the first three quarters of fiscal year 2000/2001, MVV Energie AG enjoyed high growth in volume and sales and significantly improved its EBIT. Sales rose by DM 724 million (+75%) to DM 1 689 million; without the initial consolidation of Energieversorgung Offenbach AG (EVO), sales would have risen 39% to DM 1 339 million. This healthy growth in sales can be attributed primarily to MVV's expanding power trading, higher gas sales due to rate hikes and to sales successes in its business in value-added services. EBIT increased by DM 79 million (+47%) to DM 249 million despite drops in earnings due to competition. The main reasons for the sharp increases in earnings were the proceeds from selling EnBW shares in March 2001 (DM 220 million after deducting the book value) and initial consolidation of new majority participations. Net earnings after taxes rose 10% to DM 90 million. This difference in growth compared to EBIT was due to higher interest costs in the first two quarters of 2000/2001 to finance the EVO participation and to higher income taxes for the one-time proceeds from the EnBW stock sale. In the same time frame, we implemented restructuring measures to increase our competitiveness; these measures caused EBIT to be charged DM 154 million.agsteuerbelastung aufgrund des hohen Einmalertrages aus dem Anteilsverkauf.

We were able to offset these charges through the proceeds from the EnBW stock sale. MVV expects these measures to have a positive impact on future net earnings. In addition to our core business as a distribution utility, MVV Energie AG intends to build up renewable energy to a second major mainstay. MVV Energie AG is also sticking to its objective of increasing the free float of its shares to at least 25% and to generate equity for further growth in the renewable energy sector in the near future. We are planning a combination of selling shares from the stock held by MVV GmbH and a capital increase in spring 2002. According to this fiscal year's business developments so far, we are sticking to our EBIT target of at least DM 250 million for the entire fiscal year. Our sales forecast has been increased from DM 1.8 billion to DM 2.1 billion due to our growing power trading.

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