Offshore agreement in England now unconditional

In Announcement No. 17-03 dated 20 November 2003 NEG Micon announced that the company had entered into a conditional agreement with the Danish utility, Elsam, regarding the offshore project Kentish Flats in England. The agreement has now become unconditional and includes the delivery of 30 NM92/2750 wind turbines equipped with the Pitch Regulated Variable Speed technology. Each turbine has a nominal output of 2.75MW. The value of the project amounts to approx. DKK 1.1b (approx. EUR 150m). The construction of the project will start in 2004 and be finalized in 2005. The above does not change NEG Micon's financial expectations for 2003 and 2004.