GENERAL SALES CONDITIONS

1) These conditions apply to our sales (offers and contracts) for supplies and services to the extent that no other conditions are expressly agreed. For GHE´s hydro power plant projects the individual project contracts apply.

2) Austrian Law applies, excluding the UN Sales Law (Vienna Convention).

3) Offers are non-binding unless otherwise designated as binding. Binding offers are valid for 30 days.

4) Since Austrian Law provides a comprehensive legal framework these conditions work without the frequently used small print and are reduced to provisions commonly used in the trade as provided for as follows.

5) Retention of title: property passes from Seller to Buyer only upon full payment. This applies also to resales.

6) Warranty: it covers expressly agreed specifications of the supply or the service. The warranty period is generally valid for one year from delivery, but not longer than the warranty period granted by subsuppliers in case of purchased parts.

7) The warranty is given under the following conditions: specified claim without delay, compliance with operations- and maintenance manuals, proper storage.

8) Limitation of liability: claims for damages are excluded except in cases of gross negligence and wilful acts.

9) Exclusion of consequential damages: any claims for indirect or consequential damages are excluded such as for interruptions or stoppage of production, loss of sales or profit, etc.

10) Miscellaneous: Compensation with counterclaims is excluded. Technical or commercial information which is not commonly accessible must be held confidential.

11) Legal venue: GHE is entitled to choose between the ordinary courts having jurisdiction and arbitration under the Rules of the Vienna International Arbitral Center (Vienna Rules). Arbitration to be held in the English language.