Moscow, 19 September 2005. Today, as a measure to increase capitalization of OAO "WGC-5" and expand the pool of the Company's potential investors, Deutsche Bank launched an unsponsored GDR program for OAO "WGC-5" on the major European securities markets, The London Stock Exchange (LSE) and Deutsche Boerse (Frankfurt).

With effect from today, the Company's GDRs may be traded on the OTC markets of the above stock exchanges. OAO "WGC-5" is the first major Russian generation company established in the course of the electricity reform to have entered the global securities marketplace.

Earlier, shares of OAO "WGC-5" were included in the list of securities admitted to trading but not included in the Quotation Lists of NP "RTS Stock Exchange" and OAO "RTS Stock Exchange" and the List of non-listed securities of ZAO "MICEX Stock Exchange".After OAO "WGC-5" is listed on the Russian securities exchanges and is included in their quotation lists, the Company will be able to upgrade its DR program by transforming it into a sponsored program, which will enable it to issue ADRs.

Currently, RAO "UES of Russia" holds a 90.2% stake in the authorized capital of OAO "WGC-5", with the minority shareholders holding the remaining 9.8%. After the merger of OAO "Konakovskaya TPP" with and into OAO "WGC-5", the latter will issue additional shares which will enable all shareholders in OAO "Konakovskaya TPP" to exchange their shares for shares in OAO "WGC-5". According to the Company's programme to consolidate its subsidiaries, the minority shareholders' stake in OAO "WGC-5" is expected to rise to 12.5% (which corresponds to 49% shares in OAO "Konakovskaya TPP" held by the minority shareholders in accordance with the approved share exchange ratio).