Karlsruhe. On May 6th, 2003, EnBW has launched a 2 billion Euro Commercial Paper Programme. This programme serves the issuance of unsecured notes with a maturity running from 1 days' to 364 days' time. Due to this programme EnBW diversifies its present financing portfolio by another attractive and flexible instrument. Apart from the extension of the investor basis EnBW will benefit, in particular with respect to the internal cash management, from the conditions on the money market. Beside UBS Warburg as the appointed lead Arranger the dealer syndicate is represented by the following banks: Citibank international plc, Landesbank Baden-Wuerttemberg, The Royal Bank of Scotland, Deutsche Bank and Société Générale.