22.12.03

22.12.2003: Meldung: Vestas Wind Systems A/S: Large order for the Italian market

Ringkøbing, 19 December 2003
Stock Exchange announcement no. 26/2003

Vestas receives large order for the Italian market
IWT - Italian Wind Technology S.r.l., which is 100% owned by the Vestas Group, has received turnkey contracts in Italy for a total of 165 MW.

The order has been awarded by the IVPC Sardegna S.r.l. and its subsidiaries, which are part of the IVPC Group, and comprises a total of 195 units of Vestas V52-850 kW turbines, towers, foundations and electrical and civil infrastructure. The turbines will be installed during 2004 and will be placed in seven new wind farms located in Sicily and Sardinia. "We are very pleased to be selected as turbine supplier by IVPC Group for their new projects", says Svend Sigaard, President and CEO of Vestas Wind Systems A/S, and continues; "The order is particularly important for the capacity utilisation in our Italian manufacturing facility in Taranto".

The IVPC Group is the largest wind energy developer in Italy, and already operates wind farms with an installed capacity of around 500 MW - all with Vestas turbines. "The Italian market has been difficult in 2003 due to the political uncertainty of the long term target for Green energy", says Svend Sigaard, and concludes; "Recent political statements point towards a resolution that will bring Italy back as a strong market for wind power and we have seen an increased activity level in the market lately".

The above mentioned order does not influence the Vestas Group"s expectations for the years 2003 and 2004, cf. Stock Exchange announcement no. 22/2003 of 28 November 2003.

Any questions may be addressed to the Board of Management at Vestas Wind Systems A/S, phone +45 9675 2575.
Best regards,
Vestas Wind Systems A/S
Svend Sigaard
President and CEO
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