AREVA launches cash tender offer for REpower Systems AG

• Cash Offer of EUR 105 per share, representing total equity value of more than EUR 850 million
• Offer represents an attractive premium of 17 per cent on closing stock price as of January 19th 2007 and 44 per cent on three-month average share price¹ prior to January 19th 2007
• Offer Period starts today and will run until March 7th 2007, 24:00 hours CET, unless extended
• Complementary strengths to create strong platform for long-term growth in fastdeveloping worldwide wind energy sector
• AREVA, with a more than 29.9 per cent stake, has been a strategic investor in REpower since September 2005

Hamburg, Germany, 5 February 2007- The AREVA Group announced today that it has published a cash tender Offer for the shares it does not already own in REpower Systems AG, a wind turbine manufacturer based in Hamburg. AREVA, a world leader in technological solutions for CO2-free power generation, electricity transmission and distribution, currently holds more than 29.9 per cent of REpower and has been a strategic partner and investor in the company since September 2005. The Offer period will run until March 7th 2007, 24:00 hours CET, unless extended.

As announced on 22 January 2007 AREVA is offering EUR 105 per REpower share, which values REpower’s equity at more than EUR 850 million. This represents:

• 17 per cent premium over the share price at closing on 19 January, the last trading day before the announcement of this Offer¹
• 44 per cent premium over the 3 month average share price1 prior to January 19th 2007

¹ Based on Xetra closing prices

"We believe that this is an attractive Offer in the best interests of shareholders, the company, its employees and customers which fully reflects the business value and future prospects of REpower. We are pleased by the support that REpower’s management has shown on the day of the announcement by stating that AREVA is “the right partner” for REpower. Through its financial strength and global presence, AREVA will enable REpower to accelerate its development and build on its leading technologies, dynamic management team and highly skilled employees", said Anne Lauvergeon, CEO of AREVA Group.

REpower is one of the leading players in the fast-growing worldwide wind energy sector, specializing in high output turbine technology particularly suitable for off-shore turbines. The complementary nature of the combination will enable REpower to have the necessary financial strength, engineering expertise and commercial reach to accelerate its development, particularly in off-shore projects. REpower already has a strong competitive advantage in this area by being the leader in 5MW turbines for offshore applications. The combination of AREVA and REpower will create a worldwide centre of excellence in wind energy based in Germany.

The global reach of the AREVA Group will allow REpower to leverage a bigger sales and marketing platform, opening up new and exciting future commercial prospects for the firm. AREVA’s knowledge of utility customers and grid managers will benefit REpower significantly.

This acquisition will reinforce AREVA’s strategic position in CO2-free energy technologies. AREVA’s strategy of combining nuclear and renewable energies and transmission and distribution infrastructure are complementary, all seeking to address the world’s growing energy demand without emitting greenhouse gases.

As outlined in the Offer Document, the offer will be subject to AREVA achieving at least 50% plus one share ownership in REpower and usual customary conditions.