Sales of Euro 2.3 billion in past 2006/07 financial year, operating earnings at Euro 199 million - Electricity prices set to remain stable until September 2008

The very mild winter in the past 2006/07 financial year (1.10.2006 - 30.9.2007) left the annual results of Germany's largest municipal utility group, MVV Energie AG, Mannheim, at the same level as in the previous year. As reported by the company upon the announcement of its preliminary annual earnings figures on Tuesday, operating earnings (EBIT) amounted to Euro 199 million (previous year: Euro 201 million). Including energy trading transactions stated in accordance with international valuation requirements (IAS 39), the company's EBIT increased to Euro 215 million, up from Euro 201 million in the previous year. Annual sales excluding energy taxes rose by around 4 percent over the same period to reach Euro 2.3 billion.

Dr. Rudolf Schulten, CEO of the company, which has operations in Germany, Poland and the Czech Republic, expressed his great satisfaction with these results. "In recent months we virtually made up for the downturn in earnings by around Euro 33 million in the district heating and gas segments seen as a result of weather conditions. This was achieved by consistently implementing our efficiency enhancement measures, as well as by the highly successful performance of our nationwide electricity sales and our high-growth fields of environmental energy and energy-related services." According to Schulten, this had also been accomplished "even though prices for our customers largely remained stable". Following a slight adjustment in the electricity price by 4.2 percent as of 1 January 2008, the company has announced this year as well that it will be leaving its electricity rates unchanged up to September 2008. No changes were made to the gas price at the beginning of the new financial year.

MVV Energie AG reported substantial growth in its annual net surplus after minority interests for the past financial year. This rose from Euro 50 million to Euro 109 million, mainly as a result of the positive impact of the German corporate tax reform. Earnings per share also grew significantly from Euro 0.91 to Euro 1.96.

MVV Energie AG will publish its definitive financial statements for the 2006/07 financial year at its Annual Financial Statements Press Conference in Frankfurt am Main on 17 January 2008. The Annual General Meeting will take place at the Rosengarten Congress Center in Mannheim on 14 March 2008.

Mannheim, 20 November 2007

Preliminary key figures of the MVV Energie Group pursuant to IFRS

Euro million	2006/2007	2005/2006	+/-% change
Sales1	2 259	2 170	+ 4
EBITDA	359	370	- 3
EBIT	215	201	+ 7
EBIT prior to IAS 39	199	2012	-
EBT	139	128	+ 9
Annual net surplus	126	64	+ 97
Annual net surplus after minority interests	109	50	+ 118
Earnings3 per share4 in Euro	1.96	0.91	+ 115
Free Cashflow5	119	- 52	-
1 excluding energy taxes
2 impact on earnings of IAS 39 (energy trading transactions) not reported separately in the    previous year
3 in accordance with IAS 33
4 number of shares (weighted annual average): 55.8 million (previous year: 50.1 million)
5 cash flow from operating activities less investments in, intangible assets property, plant and    equipment and investment property