Ad-hoc | 21 February 2006 08:31

E.ON AG: takeover offer for 100 percent of Endesa, S.A., for 27.50 Euros per share

Ad hoc announcement transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. —————————————————————————— E.ON AG has decided to make a takeover offer for 100 percent of the shares and American depositary shares of Endesa, S.A., for a price of 27.50 Euros per share in cash. E.ON AG (“E.ON”) will today issue a takeover offer for 100 percent of the shares and American depositary shares of Endesa, S. A. (“Endesa”), for a price of 27.50 Euros per share in cash or approx. 29.1 billion Euros in total. The total transaction volume is approx 55.2 billion Euros, including net financial liabilities, provisions, and minority interests of approx. 26,1 billion Euros disclosed by Endesa as of December 31, 2005. If Endesa shareholders are paid a dividend prior to the transaction’s completion, the offer price of 27.50 Euros per share will be reduced by the amount of the per-share dividend. The offer is subject to the following conditions: 1. E.ON must, in response to this offer, acquire at least 529,481,934 Endesa shares, equal to 50.01 percent of Endesa’s capital stock. 2. The annual general meeting of Endesa must pass the following changes to Endesa’s Articles of Association: a) Change Article 32 to eliminate all limitations on the exercising of voting rights; b) Change Articles 37 and 38 to eliminate the requirements regarding categories of Directors and the composition of Board of Directors; c) Change Article 42, to eliminate the prerequisites for the appointment of Endesa’s Directors or Chief Executive Officer. E.ON will submit its offer to the CNMV, Spain’s securities regulator this morning, after which it will issue additional information. (c)DGAP 21.02.2006 ————————————————————————— language: English emitter: E.ON AG E.ON-Platz 1 40479 Düsseldorf Deutschland phone: +49 (0)211 4579-0 fax: +49 (0)211 45 79-5 01 email: investorrelations@eon.com WWW: www.eon.com ISIN: DE0007614406 WKN: 761440 indexes: DAX, EURO STOXX 50 stockmarkets: Amtlicher Markt in Berlin-Bremen, Frankfurt, Hannover, Düsseldorf, Hamburg, München, Stuttgart; Terminbörse EUREX; Foreign Exchange(s) NYSE End of News DGAP News-Service —————————————————————————