EEII AG

euro adhoc: EIC Electricity SA
Quarterly or Semiannual Financial Statements
Fair Value Adjustments (E)

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

Zurich and Geneva, September 30, 2003

Fair Value Adjustments

The investment company EIC Electricity SA informs, that it has adjusted the fair value estimates of its three private equity investments as following:

Fair Value Ensys AG new: CHF 5.8 (+96%) per EIC share; Fair Value Termobahia Ltda new: CHF 1.9 (+21%) per EIC share; Fair Value SEFL new: CHF 3.4 (-37%) per EIC share.

As a result of the adjustments, the value of the EIC private equity portfolio increases by CHF 1.1 per share. The company will provide some background to its adjustments in its quarterly report (available as of October 1, 6 pm at www.eicpower.com)

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

end of announcement            euro adhoc 30.09.2003
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Further inquiry note: Dr. Dominique Candrian

Branche: Electricity Production & Distribution
ISIN:      CH0007162958
WKN:        940179
Index:    Investment Index (IGSP)
Börsen:  Frankfurter Wertpapierbörse / official dealing
              SWX Swiss Exchange / official dealing



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