EVN AG — Capital/Financing Update 2010

Oct 28, 2010

Ad hoc announcement

EVN AG / Keyword(s): Capital Increase/Capital Increase

EVN AG: EVN successfully completes pricing of capital increase

Ad hoc announcement transmitted by DGAP - a company of EquityStory AG. The
issuer is solely responsible for the content of this announcement.

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NOT FOR DISTRIBUTION IN THE UNITED STATES, CANADA, UNITED KINGDOM,
JAPAN OR AUSTRALIA

Subscription price set at EUR 11.00 per share
First trading day in the new shares on the Vienna Stock Exchange expected
on November 2, 2010
New capital (EUR 173 million) will be used to strengthen balance sheet by
increasing issued equity and thereby supporting credit rating, as well as
for investments in renewable energy projects in Lower Austria and the
expansion of hydro power energy capacities in other regions of Austria
and in neighbouring countries

EVN AG determined the final subscription price in connection with the
announced 10% capital increase of its nominal capital at EUR 11.00 per
share; it equals the offer price in the Pre-Placement to institutional
investors. The total number of new shares to be issued is 16,352,582.

The company will, under the conditions set out in the subscription offer,
raise net proceeds of EUR 173 million from the capital increase.

The new shares will be listed on the Official Market of the Vienna Stock
Exchange and traded in the Prime Market Segment which is expected to
commence on November 2, 2010.

All new shares were successfully placed in the pre-placement to
institutional investors. The issue was substantially oversubscribed. The
allocation of new shares to the institutional investors in the
Pre-Placement is subject to a 28.6% claw-back if those shareholders who
have not waived it in advance exercise their subscription rights as well as
with regard to new shares subscribed by employees of EVN.

The subscription period for the new shares was set to start on October 29,
2010 and end on November 12, 2010.

The majority shareholder NÖ Landes-Beteiligungsholding GmbH will fully
exercise its subscription rights and, as a result, will further on hold 51%
of the issued share capital of EVN AG.

Deutsche Bank Aktiengesellschaft and Raiffeisen Centrobank AG acted as
Joint Bookrunners and Joint Lead Managers in the offering.

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Information and Explaination of the Issuer to this News:

Legal Disclaimer: This ad-hoc announcement serves marketing purposes in
Austria and constitutes neither an offer to sell nor a solicitation to buy
any securities of EVN AG. The securities have already been sold.

This ad-hoc announcement is not for distribution in or into the United
States of America and must not be distributed to U.S. persons (as defined
in Regulation S under the U.S. Securities Act of 1933, as amended
('Securities Act')) or publications with a general circulation in the
United States. This press release does not constitute an offer or
invitation to purchase any securities in the United States. The securities
of EVN AG have not been registered under the Securities Act and may not be
offered, sold or delivered within the United States or to U.S. persons
absent registration under or an applicable exemption from the registration
requirements of the United States securities laws. There will be no public
offer of securities of EVN AG in the United States. This press release is
directed only at persons (i) who are outside the United Kingdom or (ii) who
have professional experience in matters relating to investments falling
within Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (as amended) (the 'Order') or (iii) who
fall within Article 49(2)(a) to (d) ('high net worth companies,
unincorporated associations etc.') of the Order (all such persons together
being referred to as 'Relevant Persons'). Any person who is not a Relevant
Person must not act or rely on this communication or any of its contents.
Any investment or investment activity to which this communication relates
is available only to Relevant Persons and will be engaged in only with
Relevant Persons.

EVN AG
Corporate Communications
EVN Konzern

Stefan Zach
EVN Platz
A-2344 Maria Enzersdorf
Tel.: +43 2236 200-122 94
Fax: +43 2236 200-822 94
Mobil: +43 676 810 32 294
stefan.zach@evn.at
www.evn.at

28.10.2010 DGAP’s Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: EVN AG
EVN Platz
2344 Maria Enzersdorf
Österreich
Phone: +43-2236-200-12294
Fax: +43-2236-200-82294
E-mail: info@evn.at
Internet: www.evn.at
ISIN: AT0000741053
WKN: 074105
Indices: ATX
Listed: Foreign Exchange(s) Wien (Amtlicher Handel / Official Market)

End of Announcement DGAP News-Service

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