The Board of Directors examined the sources of financing of the investment program of TGC-9 for 2006-2010, approved the schedules of realization of priority-driven and potential investment projects of the company, approved the membership of the Auditing Committee of the Board of Directors.

The Board of Directors examined the sources of financing of the long-term investment program of TGC-9. By 2015 the company needs nearly 106 billion RUR for realization of all potential investment projects. The main sources of these funds, according to the decision of the Board of Directors, will be the profit of TGC-9, capital allowances, borrowed current assets. They also plan to give funds from the emission of additional stocks for realization of the investment program.

They approved schedules of realization and financing of the investment projects of TGC-9 – reconstruction of Permskaya HPP-13 and HPP-14. Within the limits of these projects Permskaya HPP-13 plans to introduce 16 megawatt of electric power, HPP-14 – 35 megawatt. The completion of works at HPP-13 is planned for the end of 2007, reconstruction of HPP-14 will be finished by the beginning of 2008.

They approved the schedule of work on realization of the investment project of TGC-9 – construction of Novo-Bogoslovskaya HPP to provide reliability and energy independence of Serovo-Bogoslovsky unit. The planned electric power of a new station will be up to 1000 megawatt, heat power – up to 1050 Gkal/hour, estimated cost of construction is 33,4 billion RUR. The final decision of the realization of the project will be made by the Board of Directors by July 1^st, 2007, and it will depend on the outlook of the development of aluminum production in this unit.

The Board of Directors approved the schedule of work on realization of the priority-driven investment project of construction of Novo-Bereznikovskaya HPP. The electric power of the station must be 418 megawatt, heat power – up to 500Gkal/hour, the cost of the project is 14,3 billion RUR. They plan to start the construction of HPP in the first quarter of 2008, the first introductions of the equipment will take place, roughly, by the end of 2009.

They approved the schedule of realization of the priority-driven investment project on reconstruction of Permskaya HPP-6, where they plan to install 2 turbines with the power of 40-60 megawatt each and two turbines with the power of 12 megawatt each. Works at the station must begin in the first quarter of 2007, putting of new powers into operation is planned in the second quarter of 2009, the cost of reconstruction of Permskaya HPP-6 is 3,8 billion RUR. The Board of Directors approved the attraction of EPC-contractor (general contractor) of selection of the principal technical decision and the search of suppliers of the equipment.

At the meeting they approved the membership of the Auditing Committee of the Board of Directors. They elected the Chairman of the Committee general director of the Fund “Institute of professional directors” Dmitry Stikov, also the committee included the executive director of Business-unit No.1 of RAO “UES of Russia” Dmitry Melnikov and Deputy General Director of IES of management of assets Aleksey Glutshenko.

The Board of Directors approved the designation of Deputy General Director of the company on marketing Boris Bokarev and elected him the member of the Board of Directors of the company.

Boris Bokarev was born in 1973. He graduated from the Ural state technical university on the speciality “Organization and management in the branches of FEC”. From 1995 to 2005 he worked in “Sverdlovenergo”. From April 1^st, 2005 he worked as the First Deputy Executive Director of “Sverdlovenergosbit” on economy and finance.