Public disclosure required by Consob Resolution No. 11971 of May 14, 1999, as amended. Today’s Meeting of Edison’s Board of Directors. Four of Edison’s wholly owned subsidiaries will be merged into and absorbed by the Parent Company
Milan, May 28, 2004 - Edison’s Board of Directors, Meeting today under the chairmanship of Umberto Quadrino, approved the merger by absorption of BUSSI TERMOELETTRICA SpA, CAFFARO ENERGIA Srl, SAVIM Srl, SOGETEL SpA and VEGA OIL SpA into EDISON SpA. All of the companies that are being absorbed are wholly owned subsidiaries of Edison SpA and are subject to its oversight and coordination. As allowed by the provisions of the new corporate law that apply to wholly owned subsidiaries, the Board of Directors acted in lieu of Edison’s Stockholders’ Meeting.
On May 27, 2004, the merger was approved by the Stockholders’ Meetings of the companies that are being absorbed.
For reporting and tax purposes, the merger will be effective as of January 1, 2004. Based on the time physically needed to file the necessary paperwork and allow creditors to file any objections, the merger is not expected to become effective vis-à-vis third parties before August 1, 2004.
