14.02.2002 – 18:50

EEII AG

euro adhoc: A&A EIC Electricity Investment Company
Management Changes
Ad-hoc Information
A&A EIC Electricity Investment Company (EIC): New Appointments to the Investment Committee
New Board Member (E)

Disclosure announcement transmitted by euro adhoc. The issuer is
responsible for the content of this announcement.

A&A EIC Electricity Investment Company SA, Geneva announces that it
has substantially completed the restructuring of the company:

Investment Committee

As of April 1, 2002, the Investment Committee will consist of the
following professionals: Dr. Dominique Candrian, CEO of EIC;
Christian Berner, Partner at de Pury Pictet Turrettini & Co. Ltd.,
Marcel Brühwiler, Andreas Schneller, and Stephan Truffer.

While Dominique Candrian, Christian Berner and Andreas Schneller were
members of the Investment Committee already in the past, Marcel
Brühwiler and Stephan Truffer will join the team on April 1, 2002:
Marcel Brühwiler, 34, will join the EIC team from ABB Financial
Services and Stephan Truffer, 32, will join the EIC team from Lehman
Brothers’ London-based European energy team.

EIC Partners AG

EIC Partners AG will be the employer of Dominique Candrian, Marcel
Brühwiler, Andreas Schneller and Stephan Truffer and will act as the
advisor of EIC’s investment manager in Jersey (regulatory approval in
Jersey pending). All four team members will work exclusively for the
benefit of EIC. PPT Holding, the management team and two Board
Members of EIC will be the owners of EIC Partners AG.

Dr. Markus Ruffner proposed to join the EIC Board

The EIC Board has also decided to propose Dr. Markus Ruffner as a new
Board Member to the General Assembly on March 8, 2002. Markus Ruffner
is Partner and Chief Investment Officer at the New Private Bank (NPB)
in Zurich and holds doctor degrees in law and economics. He was
formerly a member of the editorial staff of Neue Zürcher Zeitung and
a senior economist and investment strategist at Credit Suisse.
Subject to the confirmation by the Annual Shareholders Meeting, the
Board of EIC will be composed of Peter Giller (Chairman), John Baker,
Göran Lundberg, Guillaume Pictet, Markus Ruffner and Hans E.
Schweickardt.

Fee Structure

The current Fee structure will basically remain in force (1%
Management Fee of NAV plus 20% Performance Fee over a Hurdle Rate of
5%, related to the share price). The high water marks will remain
unchanged. The following adjustments have been approved by the Board
of EIC:

• Management Fee: Gross-up for some cost of the operations in Jersey (approx. 0.2% p.a.).
• Performance Fee: (i)Reduction of the Performance Fee if EIC’s benchmark - the MSCI World Utilities Index - is under-performed; (ii)Reduction of the Performance Fee if certain liquidity criteria of the EIC shares are not met; (iii)Cap of the Performance Fee per annum at 5% of EIC’s Net Asset Value.

Market Making

As per immediate effect, Zürcher Kantonalbank will act as the market
maker for the shares of EIC (Contact person: Stefan Sola, Phone:
+41-1-293’66’65).

Proposed change in Name

In the context of the reorganization, the Board of EIC proposes to
the Shareholders to change the name from "A&A EIC Electricity
Investment Company SA" to "EIC Electricity SA".

EIC is listed on the Swiss Exchange (SWX) and on the Frankfurt
Securities Exchange (Bloomberg: EIC SW Euity / EIV GR Equity). The
company is specialized in investments in power generation,
transmission, trading and distribution.

Zurich / Geneva
February 14, 2002

end of announcement        euro adhoc 14.02.2002

Further inquiry note:

Dominique Candrian, Tel.+41-43-844'10'00:, E-mail:
dcandrian@eicpower.com