30.9.2004: Ad hoc: Electrabel Board of Directors
The Group’s electricity and gas strategy remains unchanged; particularly profitable development of Electrabel in Europe, in the Benelux, France, Spain and Italy.
Moreover, the Electrabel Board of Directors considered various current matters of energy policy and of electricity markets dynamics. The Board also asked management to explore the necessary contacts and studies that will eventually make it possible to have nuclear capacity of the EPR type under the most favourable economic conditions.
Finally, The Board further asked a group of directors to analyse the measures necessary for bringing the functioning of the Board into line with the new recommendations for corporate governance, in particular the draft Belgian Code which is now being finalised, taking into account the current best practices.
Suez is the majority stakeholder of Electrabel with a 50.08% stake.
Suez is a worldwide industrial and services Group, active in sustainable development, providing companies, municipalities, and individuals innovative solutions in Energy and the Environment. Suez is listed on the Euronext Paris, Euronext Brussels, Luxembourg, Zurich and New York Stock Exchanges and supports Paris as the site for the 2012 Olympic Games.
This press release contains certain forward-looking statements, particularly with respect to future events, trends, plans or objectives. These statements are based on management"s current views and assumptions and involve a number of risks and uncertainties which may lead to a significant difference between actual results and those suggested either explicitly or implicitly in these statements (or suggested by past results). Additional information about these risks and uncertainties appears in documents filed by Suez with the U.S. Securities and Exchange Commission and the Autorité des Marchés Financiers (French securities regulator). The present forward-looking statements are made as of the date of the present release, with no undertaking by Suez to update or revise them, whether in connection with new information, future events, or any other factor.
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