PRESS RELEASE 01.11/2005

Over EUR 36,900,000 Spot trades, that represents 7.32% of the forecasted electricity net consumption

(Bucharest, 1st November 2005) In the first four months of trading, OPCOM operated transactions in amount of EUR 36,908,881 (LEI 130,872,219), that represents 7,32% of the forecasted electricity net consumption at an average price of 30,45 EUR/MWh

After four months of operation of the new spot market, OPCOM, the Romanian electricity market operator still represents a transparent, anonymous, voluntary and attractive framework where generators and suppliers (an average number of 27 of 54 registered, the number could reach 37 participants per day) balance their portfolios. Depending on opportunities, various hourly energy quantities are sold and bought, with an average value of 397 MWh, that represents 7.32% of the forecasted electricity net consumption.

These results, (available at website addresswww.opcom.ro) put OPCOM in the category of medium liquidity power exchanges in Europe.

The total amount of transactions rose to EUR 36,908,881 (LEI 130,872,219), and the medium spot price for this period was of 30.45 €/MWh, below the European prices and to an equivalent level compared with the Scandinavian market.

Press release no 07/2005

For more information, please contact SC OPCOM SA

Victor Ionescu,CEO, phone (+40 21) 30 71 450