Moscow, 8 April 2005. At its regular meeting, the Audit Committee of the Board of Directors of RAO "UES of Russia" approved the Procedure for declaration of transactions with persons in possession of insider information on RAO "UES of Russia" and the subsidiaries and dependent companies (SDCs) of RAO "UES of Russia" to be submitted for final approval by the Board of Directors of RAO "UES of Russia".

The document defines the notion of "insider information" and determines the set of people having access to such information. The document also sets forth the procedure for notification of insider deals in securities of RAO "UES of Russia" and its SDCs.

Further, the Committee heard and approved the report of the Science and Research Institute for the Economy of Energy Industry "On the first stage of work on the subject: Provision of analytical services relating to controls of fuel supply and management in the RAO "UES of Russia" Group and preparation of recommendations on improving these services." The report had been prepared as part of the Calorie project.

Also, the Committee heard and noted the report on the analysis of some audits of financial and business operations at SDCs of RAO "UES of Russia" performed by the Company's Internal Audit Department in 2004.

The Audit Committee noted the Report presented by the Company's auditors, ZAO "KMPG" on the results of the audits of the IFRS consolidated financial statements of RAO "UES of Russia" Group for the 6, 9 and 12 months of 2003.