(1) General Information on the Company and its Core Business Activities

Západoslovenská energetika, a.s. (“the Company”), Corporate ID: 35 823 551, registered office at Čulenova 6, 816 47 Bratislava, was established on October 15, 2001 and incorporated in the Commercial Register on November 1, 2001 (Commercial Register of the District Court Bratislava I, Section SA, Insert No. 2852/B).

The Company is one of the legal successors of Západoslovenské energetické závody, š.p. At 31 October 2001, this state enterprise was wound up without liquidation based on the resolution No. 96/2001 of the Slovak Ministry of Economy. One day later, its assets and liabilities were transferred to the Slovak National Prop-erty Fund (“NPF”) in accordance with the privatization project. On November 1, 2001, the NPF contributed them to the following joint-stock companies: Západoslovenská energetika, a.s., Bratislavská teplárenská, a.s., and Trnavská teplárenská, a.s.

Core Business Activities According to the Extract from the Commercial Register:
  1. Purchase of electricity
  2. Transit of electricity
  3. Distribution of electricity
  4. Engineering in maintenance, service and operation of the electric distribution networks and transformer stations
  5. Provision of services relating to maintenance and operation of electric stations and networks 22 kV
  6. Assembly, repairs and maintenance of special electric equipment (below 1000V, above 1000 V)
  7. Installation and exchange of measure equipment
  8. Assembly, repairs and maintenance, inspections and examination of electric equipment
  9. Assembly, repairs and maintenance of telecommunication equipment
  10. Purchase and resale of merchandise to the final consumer (retail)
  11. Purchase and resale of merchandise to other business license holders (wholesale)
  12. Intermediation activities in the framework of business license
  13. Consultation and advisory services in power engineering
  14. Inspections and examination of gas technical equipment
  15. Inspections and examination of pressure technical equipment
  16. Inspections and examination of lifting equipment
  17. Advisory, training and education in the field of work safety
  18. Technical services in the field of work safety
  19. Technical services in the field of fire protection
  20. Leasing of machines, equipment, devices and mechanisms
  21. Repairs of equipment, road transportation means and bodyworks
  22. Acquisition of services for building administration
  23. Accommodation services including catering services in these facilities
  24. Operation of reconditioning facilities
  25. Domestic non-regular bus services
  26. Domestic road transport

Average Number of Staff
In 2005, the Company employed 1,408 persons on average, 25 of which were management.

Legal Reason for Preparing the Financial Statements
The Company’s financial statements at December 31, 2005 have been prepared as ordinary financial
state-ments under § 17 Sec 6 of the Slovak Accounting Act No. 431/2002 Coll. for the accounting period from Janu-ary 1, 2005 to December 31, 2005.

Date of Approving the Financial Statements for the Previous Accounting Period
The General Meeting approved the Company’s financial statements for the year 2004 on May 24, 2005.

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