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Unified Energy System

April 21, 2005

State registration of OAO "TGC-2" completed

Moscow, 21 April 2005. On 19 April 2005, OAO "Territorial Generation Company No. 2" (OAO "TGC-2") completed its state registration with the Inspectorate of the Federal Tax Service of Russia for Leninsky District, city of Yaroslavl.

Vasily Nesvetaylov (formerly Director General of OAO "Voronezhenergo") has been appointed to serve as Director General of the newly established company.

The following persons were appointed to serve on the Board of Directors of OAO "TGC-2": Yury Dolin, Deputy Managing Director, Executive Director of Business Unit No. 1, RAO "UES of Russia"; Dmitry Akhanov, Head of Strategy Department, Reform Management Center, RAO "UES of Russia"; Evgeny Tsyba, Head of Directorate for Increasing Efficiency of Operational and Investment Activities, Business Unit No. 1, RAO "UES of Russia", Vasily Nesvetaylov, Director General, OAO "TGC-2"; Igor Zenyukov, Head of Corporate Governance Department, Corporate Center, RAO "UES of Russia"; Dmitry Shtykov, Director General, General Director, Professional Directors Institute Foundation; Evgeny Bykhanov and Valery Nepsha, Deputy Directors General, Professional Directors Institute Foundation; Maxim Eremeyev, Alexander Orlov, and Vladimir Flegontov, Advisors with Professional Directors Institute Foundation.

At its meeting held 25 February 2005, the Board of Directors of RAO "UES of Russia" approved the establishment by RAO "UES of Russia" of OAO "TGC-2" as a wholly-owned operational company using the lease arrangements, and subsequent merger of the regional generation companies spun off from regional energos with and into OAO "TGC-2".

At the time of establishment, the charter capital of OAO "TGC-2" was RUB10 million and was divided into 1 billion ordinary shares.

The Board of Directors of RAO "UES of Russia" approved the lease of generation assets by OAO "TGC-2" from OAO "Arkhangelsk Generation Company", OAO "Kostroma Generation Company", OAO "Novgorod Generation Company", OAO "Tver Generation Company", OAO "Yaroslavl Energy Company" and the generation assets of OAO "Vologdaenergo", to be transferred under the separation balance sheet to OAO "Vologodskaya CHPP".

In accordance with the schedule for the establishment of OAO "TGC-2", the Company is to start its operations in the third quarter of 2005, with the establishment process to be completed in the second quarter of 2006.

OAO "TGC-2" is under the charge of Business Unit No. 1 of RAO "UES of Russia" headed by Mikhail Abyzov, member of the Management Board and Managing Director of OAO RAO "UES of Russia".




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