Dr Klaus Rauscher appointed Managing Director of HEW

10/5/2001 10:32 AM EST

At its meeting on Thursday 4 October 2001, the Board of Hamburgische
Electritictäts-Werke AG (HEW) appointed Dr. Klaus Rauscher as Managing
Director of the company.

The Board of HEW appointed Dr. Klaus Rauscher in conformity with the
proposal from its Chairman, Mr Lars G. Josefsson, Vattenfall's President
and CEO. (See press release from Vattenfall, 25 September 2001.) Dr.
Rauscher will take up his duties on 1 November.

In his function as Managing Director of HEW he will also lead the
integration process for HEW, VEAG and LAUBAG, and thus the development
of the "Neue Kraft" (New Force) being created on the German energy
market to form what will be the third largest energy company in Germany.

"Neue Kraft has no time to lose. This work will now proceed with new
vigour. The appointment of Dr. Rauscher as Managing Director of HEW is
another significant milestone along the way. As I have pointed out
before, the new head of Neue Kraft must above all act with integration
in mind. I believe that in Dr. Rauscher we have found just the manager
we need," commented Lars G Josefsson.

From Vattenfall's Press Office, telephone: +46-8-739 50 10.

For further information please contact:
Karl-Erik Olsson, Press Director, Vattenfall,
telephone: +46-8-739 75 83, mobile +46-70-538 81 38.

Vattenfall's vision is to be a leading European energy company. The
Nordic region, Poland and Germany are its domestic markets. Today,
Vattenfall generates power and supplies energy solutions to several
million customers in the Nordic region and northern Europe. The largest
electricity customers are industrial plants and energy companies.
Vattenfall's main products are electricity, heat and natural gas, as
well as network, consulting and maintenance services. The Group's net
sales in 2001 are calculated to around SEK 70 billion.