Essent anticipates closing agreement with RWE at end of Q3 2009

Arnhem, 3 September 2009 - Essent, RWE and Essent's shareholders’ committee have agreed on a solution for Essent's share (50%) in EPZ (Borssele).

Value and income for Essent shareholders still stand

The solution consists of the original transaction being preserved as far as is possible where value and annual income for Essent's current shareholders are concerned. The shareholders will continue to own Essent's activities in EPZ and retain the right to the income generated from these.

If legal verdicts enable RWE to take over these activities (start of 2010 at the earliest), this will still take place. In that case, this will be done at the price currently set (€950 million) after settlement of the dividend paid out in the meantime and interest. Here the agreement between Essent and RWE remains materially unchanged.

Following the verdict given in summary proceedings by the Arnhem Magistrates' Court in July of this year, Essent and RWE have worked on this solution, which is in full compliance with the verdict of the court in summary proceedings, the law and political wishes in the Netherlands.

The legal and economic arguments put forward by Delta during the proceedings are not shared by Essent and RWE. For this reason the legal path (appeal to a higher court on the summary proceedings from Delta and proceedings on the merits of the case) will also be pursued in order to obtain a final verdict from the court.