Exhibit 8.
LIST OF SUBSIDIARIES OF CEZ, a. s.
AS OF DECEMBER 31, 2002
The following table sets forth an overview of our equity interests in other
companies, which we include into our consolidated group, as of December 31,
2004:
Country of Registered CEZ's
Company Incorporation Capital(1) CZK `000 Interest in %
- ------- ------------- ------------------- -------------
Subsidiaries
CEZData, s.r.o. Czech Republic 950,000 100.00
CEZnet, a.s. Czech Republic 770,000 100.00
HYDROCEZ, a.s. Czech Republic 449,798 100.00
CEZ Logistika, s.r.o. Czech Republic 200,000 100.00
CEZ Sprava majetku, s.r.o.(2) Czech Republic 150,100 100.00
I & C Energo a.s. Czech Republic 150,000 100.00
Energeticke opravny, a.s. Czech Republic 55,000 100.00
rpg Energiehandel GmbH Germany 45,698 100.00
CEZ Zakaznicke sluzby, s.r.o. Czech Republic 20,000 100.00
EN-DATA a.s. Czech Republic 6,000 100.00
CEZ FINANCE B.V. The Netherlands 553 100.00
Zapadoceska energetika, a.s. Czech Republic 1,605,615 99.13
Vychodoceska energetika, a.s. Czech Republic 2,549,544 98.83
VCE - elektrarny, s.r.o. Czech Republic 198,600 98.83
VCE - montaze, a.s. Czech Republic 78,000 98.83
Stredoceska energeticka a.s. Czech Republic 3,210,369 97.72
Severomoravska energetika, a. s. Czech Republic 3,407,265 89.38
Energetika Vitkovice, a.s. Czech Republic 402,000 89.38
ePRIM, a.s. Czech Republic 50,000 89.38
MSEM, a.s. Czech Republic 154,900 89.38
Union Leasing, a.s. Czech Republic 100,000 89.38
Prvni energeticka a.s. Czech Republic 10,000 87.27
STE - obchodni sluzby spol. s r.o. Czech Republic 38,500 74.42
SKODA PRAHA a.s. Czech Republic 1,257,524 68.88
Severoceska energetika, a.s. Czech Republic 3,257,667 56.93
Ustav jaderneho vyzkumu Rez a.s. Czech Republic 524,139 52.46
Associates
KOTOUC STRAMBERK, spol. s r.o.(3) Czech Republic 569,259 64.87
LOMY MORINA spol. s r.o.(3) Czech Republic 333,000 51.05
Plzeoska energetika a.s. Czech Republic 500,000 49.57
KNAUF POCERADY, spol. s r.o. Czech Republic 372,350 40.00
Severoceske doly a.s. Czech Republic 9,000,055 37.20
Aliatel, a.s. Czech Republic 5,474,340 26.40
Coal Energy, a.s. Czech Republic 50,000 20.00
(1) This table sets forth the amount of the registered capital as indicated on
the share registry as of December 31, 2004.
(2) AB Michle s.r.o. was renamed to CEZ Sprava majetku, s.r.o. and was an
associate of CEZ in 2003.
(3) Our voting rights do not reflect our share on the registered capital (see
note 7 to the Consolidated Financial Statements).