ROYAL FAMILY EVENT AT THE WHITE PALACE

ELECTRIC POWER INDUSTRY OF SERBIA (EPS) AND RWE INNOGY SIGNED CONTRACT ON COOPERATION

Belgrade, 24 May 2011 – The state Enterprise, Electric Power Industry of Serbia (EPS) and the German Company RWE Innogy signed today at the White Palace a Contract on Founding a joint company “Moravske Hidroelektrane d.o.o”.

Due to previously accepted obligations abroad Their Royal Highnesses Crown Prince Alexander and Crown Princess Katherine were not present at the event and on their behalf guests were welcomed by Mr. Dragomir Acovic, member of the Privy Council.

This important event was attended by H.E. dr Mirko Cvetkovic, Prime Minister, H.E. Mr. Dusan Petrovic, Minister of agriculture, trade, forestry and water management, H.E. dr Oliver Dulic, Minister of environment, mining and spatial planning, H.E. Mr. Nils Ragnar Kamsvag, ambassador of Norway to Serbia, many distinghuished businesspeople and members of diplomatic corps.

This joint Company, which will be an independent producer of electric energy, should build at least five power plants at the Velika Morava River in the following years. The investment value of this project is 352 million Euros.

The contact was signed between Mr. Dragomir Markovic, General Manager of Electric Power Industry of Serbia and Mr. Fritz Fahrenhold, Director if RWE Innogy and Mr. Olaf Heil, Director of hydro and new projects for RWE Innogy.