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Reinhold Frank new member of Atel's Executive Board

The Board of Directors of Aare-Tessin Ltd. for Electricity (Atel) has selected two new members of top management. Reinhold Frank is to become the new head of the Energy Northern/Eastern Europe business division and a member of Atel’s Executive Board. He replaces Nico Dostert, who is retiring after many successful years of service with Atel. Reinhold Frank will start in the post at the commencement of next year, and take over responsibility for Atel’s business activities in Germany and the Central and Eastern European countries from 1 February 2006. The 50-year-old graduate engineer has held a variety of previous positions in the international energy industry. He was most recently Executive Chairman and Chief Executive Officer of a gas distribution company in the Czech Republic with around 900 employees.

The Atel Board of Directors has also selected Pascal Hamamdjian (43) as the new head of the Western Europe market, which covers Atel’s activities in France and Spain. He succeeds Remo Pozzi, who is due for retirement. Pascal Hamamdjian was previously Managing Director of Atel’s French subsidiary Atel Energie SAS in Paris. He likewise brings international professional experience, much of it in the energy industry. Pascal Hamamdjian will be taking over responsibility for the Western Europe market starting 1 January 2006.

The Atel Board of Directors and Executive Board thank Nico Dostert and Remo Pozzi for their dedicated work at Atel and wish all the best to their successors.

Aare-Tessin Ltd. for Electricity Corporate Communications 

Aare-Tessin Ltd. for Electricity (Atel)
Aare-Tessin Ltd. for Electricity (Atel) is the leading production-based energy service provider in Switzerland and operates at a pan-European level. Founded in 1894, Atel focuses on the two core businesses of production-based Energy Trading and Energy Services. The group of companies, domiciled in Olten, employs a staff of around 8000 and generated a turnover of CHF 7 billion in 2004. Its main markets in the energy sector are Switzerland, Italy, Germany and the Central and Eastern European countries. Its goods and services range from portfolio management and group energy supplies, to energy derivatives and option contracts, to establishing distribution concepts involving other partners. Trading and distribution are supported by a number of proprietary hydraulic and thermal power stations plus a broadly ramified transmission grid. With its Energy Services Division, Atel provides all technical services pertaining to energy (electricity, gas, oil and biomass) and its uses as power, lighting, cooling and heating, communication and security. Atel is among the leading providers of Energy Services in both Switzerland and Germany.