Delta summons Essent and RWE

Arnhem/Essent, 8 May 2009 - Essent N.V. was today summoned by Delta N.V. on account of its joint interest in N.V. Elektricteits Productiemaatschappij Zuid-Nederland EPZ. EPZ is the owner of the Borssele nuclear power plant, amongst others.

In addition to Essent, RWE AG and all of Essent’s 136 public shareholders have received a summons. As generally known, RWE has made an offer for all shares in Essent; this offer is currently being assessed by Essent’s shareholders.

Delta alleges that, in respect of Essent’s 50% interest in EPZ, Essent, RWE and Essent’s shareholders are acting unlawfully through the way in which the transaction structure of the deal has been specified. That allegation is absolutely misplaced.

Delta’s action is outrageous and lacks any factual and legal substantiation. The transaction structure as regards Essent’s interest in EPZ provides for continuation of public shareholding. The chosen structure is totally in conformity with all applicable law and legislation and with EPZ’s articles of association. In addition, safeguarding all relevant public interests, including security and the continuity of EPZ, are once again particularly met in the specification of the transaction structure.

Essent has resolved to use all of the means available to it in order to defend itself against Delta’s unfounded allegations. Delta’s legal action, which is surrounded by considerable publicity, serves absolutely no purpose other than pursuing financial gain for itself on false grounds. Delta’s action is harmful to the interests of both Essent’s and Delta’s own public shareholders and, without good reason, threatens to destroy a very successful cooperation through EPZ.

The fact that, as well as having issued a summons to Essent, Delta has also issued a summons to the shareholders of Essent and RWE, serves no reasonable purpose. The only purpose of that is to cause a needless commotion in the hope that by doing so pressure will be placed on Essent that is not evident in the content of Delta’s arguments. Essent will hold Delta liable for all loss that it or its shareholders potentially suffers as a result of Delta’s undesirable and chicaning actions.

Time after time, Essent has attempted to resolve this issue with Delta by mutual consultation. Unfortunately, Delta has not been prepared to carry out any form of constructive discussion.

Essent awaits the outcome of the proceedings with confidence, and will continue to inform its shareholders, customers, employees and the public of the progress in a proper and complete manner.