24.10.2003: Meldung: Veolia Environnement: Akquisition in Italien (engl.)

Paris, 23 October 2003


Siram, a subsidiary of Dalkia International, announced today that it has acquired Italian specialist heating systems management company Giglio Giovanni S.p.A.
The acquisition strategically follows on from Dalkia International"s 2001 purchase of Siram S.p.A, which, after a merger, created Siram, a new energy services leader in Italy. With the acquisition of Giglio Giovanni S.p.A, Siram has strengthened its number 1 position in the Italian market.

Founded in 1948, Giglio Giovanni S.p.A is a family-owned enterprise based in northern Italy. Traditionally specialising in the management of building complexes, the company has diversified into the installation and maintenance of heating systems. It had sales of €55 million in 2002.

Siram reported 2002 sales of €403 million, more than 5% higher than the estimate made at the time of the merger between Dalkia Italy and Siram S.p.A., and currently employs 2,300 people. Its services include the management of heating and air conditioning systems, the operation of district heating networks, and facilities management for government and private clients. Siram has locations throughout Italy, extensive expertise in the management of complex long-term contracts with government and commercial clients, and enjoys a unique position in the healthcare market.

Siram and Giglio Giovanni S.p.A represent a strong fit in terms of customer portfolio and geographic coverage, with the acquisition enabling Siram to enhance its position in the Emilia-Romagna, Piemonte and Liguria regions. Both companies will benefit from significant commercial and operational synergies. Their combined full-year consolidated sales are expected to total €520 million.

Dalkia, a subsidiary of Veolia Environnement and Electricité de France (EDF) and parent company of Dalkia International, is the leading European provider of energy services to local authorities and businesses. Since its creation, Dalkia has been totally committed to optimising energy and environmental protection. Dalkia meets customer demand by delivering personalised, end-to-end solutions to ensure comfortable living and efficient energy supply, including management of heating systems and energy and industrial fluid production facilities, energy plant engineering and maintenance services, technical services for commercial and industrial building operation, and facilities management. With more than 40,000 employees in 32 countries, Dalkia reported 2002 revenue totalling €5.1 billion.

Analyst and institutional investor contact: Nathalie Pinon +33 1 71 75 01 67
US Investor contact: Brian Sullivan +(1) 941 362 24 35
Press release also available on our web site: http://www.veoliaenvironnement-finance.com
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