United Energy Group plc
United Energy Group plc: Collaboration between RWE and United Energy Group in
United Energy Group Plc. / Agreement 17.11.2009 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Collaboration between RWE and United Energy Group in Bosnia-Herzegovina / Republika Srpska Takes Important Step toward Realisation November 17, 2009 - The German-Serbian energy agreement between RWE, the Serbian utility JP Elektroprivreda Srbije (EPS), and the Serbian Government that was signed into effect yesterday represents an important milestone in the collaboration between the utility RWE and United Energy Group (UEG) in the Republic of Srpska. UEG and RWE have agreed to cooperate as investment partners in implementing hydro-power plant projects on the river Drina. The Drina location is one of three potential locations mentioned in RWE's energy partnership agreement with the Serbia government and the Serbian utility EPS. Within the framework of the energy agreement, projects on the upper Drina were identified whose sites are located in the political-territorial division of Srpska. As the river Drina connects the Republic of Srpska with Serbia, the undertaking would assume cross-border significance for the provision of energy and security of supply for the entire region. Modern pump-storage and run-of-river hydroelectric power plant technology will be used to tap the region's considerable hydropower potential and to secure a CO2-free energy supply for its population. Just weeks ago, UEG had announced its intention to realise and operate a gas power plant in the Serbian border town of Loznica together with its strategic partner DECOTRA Engineering d.o.o. (DECOTRA). Notes to the editors: United Energy Group plc is an independent listed energy company. Formed in 2006, the company focused initially on the area of energy production. During the past two years, UEG underwent substantial redevelopment, and operates now in the business areas of Energy Consulting, Energy Trading, and Energy Investments. The company has thereby responded to global market trends as it seeks to make a significant contribution to the energy supply sector, and to help meet the growing energy needs worldwide. RWE is one of Europe's five leading electricity and gas companies. The company is active in the generation, trading, transmission and supply of electricity and gas. RWE's 72,000 employees supply 20 million customers with electricity and gas in Europe. In the first half of fiscal 2009, RWE recorded approximately EUR24 billion in revenue. Essent, which was recently acquired by RWE, recorded a turnover of EUR9 billion in 2008. RWE is currently running the biggest investment programme in its history, with an overall investment volume of over EUR32 billion by 2012, making it one of the largest investors in Europe. Energy from renewables plays a key role, with investments totalling EUR1bn per year. Forward-Looking Statements This communication may contain certain forward-looking statements that include declarations of intent, strategies and opinions relating to the future and to the expectations of United Energy Group and its subsidiaries. Any statement contained herein is based on information available on the respective day to the management of UEG; and actual events may vary depending on the occurrence of future events that may or may not be subject to the management's control, including risks and uncertainty factors that may cause the actual outcome to deviate considerably. Such risks and factors include, without being limited to, ramifications that acquisitions may have for the company and its capital structure, exploratory findings, market conditions, the stability of mineral oil and natural gas prices, the uncertainty factors inherent in the operative business of mineral oil and natural gas production, unexpected future investment requirements, competition, statutory provisions, and other factors. Business Network Marketing- und Verlagsgesellschaft mbH Corinna Kaspar Fasanenstr. 47, D-10719 Berlin Tel.: +49 (0)30 - 81 46 46 00 Fax: +49 (0)30 - 81 46 46 046 E-mail: ir@unitedenergy.com 17.11.2009 Financial News distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
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