News 2001

Following discussions on the strategy and structure of A&A EIC Electricity Investment Company, Geneva, ("EIC"), the EIC Board has decided to terminate the management contract with A&A Electricity Management Limited, Jersey, effective March 8, 2002

In the context of Enron's deteriorating share price, A&A EIC Electricity Investment Company (EIC) informs that it has no exposure to the Houston-based energy group. EIC has divested its Enron position entirely between June and October. All sales were conducted at prices exceeding USD 20.

The Inter-American Development Bank ("IDB") today approved a US$186 million loan in favor of the development, construction, operation, and maintenance of a 190 megawatt natural gas fired power plant in the State of Bahia.