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Unified Energy System

May 18, 2005

FSFM of Russia registers share issues of companies spun off from OAO "Belgorodenergo"

Moscow, 18 May 2005. The Federal Service for Financial Markets (FSFM) of Russia registered on 17 May 2005 the share issues of companies spun off as a result of reorganization of OAO "Belgorodenergo".

The securities regulator registered the share issues and share placement reports filed by OAO "Belgorod Trunk Grid Company" and OAO "Electricity Grid Company".

In accordance with the Resolutions on share issuance and share placement reports, the following amounts of shares were issued:

1. OAO "Belgorod Trunk Grid Company":

- 886,916 uncertificated registered preferred shares, par value RUB100 per share, for a total value of RUB88,691,600. The state registration number assigned to the share issue is 1-01-55070-E;

- 294,912 uncertificated registered preferred shares, par value RUB100 per share, for a total value of RUB29,491,200. The state registration number assigned to the share issue is 2-01-55070-E.

2. OAO "Electricity Grid Company":

- 886,916 uncertificated registered preferred shares, par value RUB3,800 per share, for a total value of RUB3,370,280,800. The state registration number assigned to the share issue is 1-01-55071-E;

- 294,912 uncertificated registered preferred shares, par value RUB3,800 per share, for a total value of RUB1,120,665,600. The state registration number assigned to the share issue is 2-01-55071-E.

The state registration of the new companies was completed on 1 April 2005.

Previously, the FSFM of Russia registered the share issues of the companies spun off from OAO "Kalugaenergo", OAO "Bryanskenergo", OAO "Belgorodenergo", OAO "Voronezhenergo", OAO "Chuvashenergo", OAO "Vladimirenergo", OAO "Marienergo", OAO "Penzaenergo", OAO "Udmurtenergo", OAO "Karelenergo", OAO "Ryazanenergo", OAO "Kostromaenergo", OAO "Ivenergo", OAO "Yarenergo", OAO "Rostovenergo", OAO "Tverenergo", OAO "Chelyabenergo", OAO "Mordovenergo", OAO "Kurskenergo", OAO "Nizhnovenergo", OAO "Smolenskenergo", OAO "Tambovenergo", OAO "Astrakhanenergo", OAO "Volgogradenergo", and OAO "Lipetskenergo".

The share registers of these companies are administered by OAO Moscow Central Depository.

____________________________________________________________

Information for the attention of stock market participants:

Shares in the spin-off companies have been distributed among the existing shareholders of the company reorganized through spin-off.

Shareholders in the reorganized regional energo have received, for each share of the relevant category (class) held by them, shares of the same category (class) in each of the newly established companies, at the ratio set in the resolution on the reorganization of the regional energo concerned.

The date on which the shares in the spin-off companies are placed is the date of state registration of the companies established as a result of regional energos' reorganization. The new shares are to be credited to the securityholder accounts with registrars and to the securities safekeeping accounts with securities depositories in accordance with the records in the share register of the regional energo as at such date.

The new shares are to be credited to the securityholder accounts by the Registrar maintaining the share registers of the newly established companies.

 

 

 

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