Mandate agreement with CSOB On April 29th, 2003, the energy corporation, CEZ, a. s., executed a mandate agreement on preparing the issuance of domestic debenture bonds with Ceskoslovenska obchodni banka, a. s. CSOB has won the tender concerning the...

                           Mandate agreement with CSOB

On April 29th,  2003,  the energy  corporation,  CEZ, a. s.,  executed a mandate
agreement  on  preparing   the  issuance  of  domestic   debenture   bonds  with
Ceskoslovenska  obchodni  banka, a. s.  CSOB has won the tender  concerning  the
setup of a  debenture  bond  scheme  with a 30  billion  CZK volume and of a new
5-year  issuance  under the said scheme with an expected CZK 3 billion.

Through this  issuance,  CEZ, a. s.  is  replacing  the 5th issuance of domestic
debenture bonds, which will be withdrawn from the market in June 2003.

May 2nd, 2003