* 80,000 customers transferred by Enel 
* Total value of the deal = € 127 million

Modena, February 18th 2005 – Enel Distribuzione and Meta SpA have signed a Memorandum of Understanding providing for transfer to Meta of the business division concerning distribution and sale of electricity in 18 municipalities of the province of Modena, for a total value of € 127 million.
The municipalities involved in the acquisition are: Castelnuovo Rangone, Fanano, Fiumalbo, Guiglia, Lama Mocogno, Marano sul Panaro, Montecreto, Montese, Pavullo nel Frignano, Pievepelago, Polinago, Riolunato, San Cesario sul Panaro, Savignano sul Panaro, Sestola, Spilamberto, Vignola, and Zocca.

With the exception of the municipality of Castelnuovo Rangone, which comes under the provisions of the so-called Bersani Law, Enel reached agreement on a totally voluntary basis in view of the money consideration offered.

The agreement envisages the sale of over 3.700 km of network, which, in these municipalities, serves some 80,000 customers, adding up to total annual consumption of 610 GWh.

Closing of the deal, which is subject to consent by the Italian Industry Ministry, Antitrust approval, and provision of prior information to trade unions, is expected to take place before the end of the first half of this year.

META is a utility company active in the energy and waste-management sectors. It manages distribution of electricity, heat, gas, water, and waste-management services in the territory of Modena and in numerous municipalities in the province. META SpA is listed on the MTA (electronic equity) segment of the Italian Bourse. Ownership of its equity is split between the City of Modena and other shareholders. Actively committed to ongoing improvement of its services, META has major international quality certifications, i.e. ISO 9001:2000 (for the electricity, gas, water and waste-management sectors) and ISO 14001 environmental certification. In addition, it makes its Service Charter available to users and the community. The Charter describes the performance levels that META has established as its standards of quality, thus making a concrete commitment to its customers.

Enel is Italy’s major electricity company with over 45,000 MW of installed capacity and a market capitalization of approximately €46 billion. It is involved in the generation, transmission and distribution of electricity, and is also the country’s second biggest gas distributor. It is also the European leader in the use of CCGT technology with over 5,000 MW of installed CCGT capacity, and a world leader in renewable energy production with approximately 17,000 MW of installed renewable capacity in Italy, Spain and the Americas.

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