Additional events

RWE takes interest in LNG company.

At the end of May, RWE Supply & Trading acquired a 50% stake in US-based Excelerate Energy for some US$500 million. Excelerate specializes in the transportation of liquefied natural gas (LNG). The company operates five LNG tankers, four of which are equipped with special technology enabling the regasification of liquefied natural gas on board. This provides for flexible transportation, while keeping the costs of feeding the gas into the grid relatively low. The fleet will be expanded to nine ships by 2010. Furthermore, Excelerate operates special import facilities for LNG Glossary tankers in the UK and the USA.

RWE conducts share buyback.

Based on an authorization granted by the 2007 Annual General Meeting, RWE purchased 31.7 million RWE common shares on the stock exchange from February to May of last year. This corresponds to a share of 5.6% of the company’s subscribed capital and 6.1% of RWE AG’s voting rights. €2.5 billion were spent within the scope of the share buyback programme. We paid an average of €78.73 per share.

Dr. Leonhard Birnbaum appointed to the Executive Board of RWE AG.

The Supervisory Board of RWE AG appointed Dr. Leonhard Birnbaum (42) to the Executive Board of RWE AG effective October 1, 2008. He succeeded Berthold Bonekamp, who retired at the end of the year, as Chief Strategy Officer (CSO). His Executive Board mandate comprises Corporate Strategy and Business Development, Mergers & Acquisitions, Research & Development and Renewable Energies. Before joining RWE, Leonhard Birnbaum worked for the McKinsey consulting group for twelve years, exiting as senior partner (director). His consulting activities focussed on the utilities sector and energy-intensive raw materials industry.