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Unified Energy System

March 23, 2005

State registration to new companies spun off from regional energos of RAO "UES of Russia"

Moscow, 23 March 2005. In accordance with the schedule for regional energos' restructuring, it is planned that state registration will be completed on 1 April 2005 by the following 50 newly established companies spun off from OAO "Arkhenergo", OAO "Belgorodenergo", OAO "Kirovenergo", OAO "Mosenergo", OAO "Nizhnovenergo", OAO "Novgorodenergo", OAO "Orelenergo", OAO "Permenergo", OAO "Sverdlovenergo", OAO "Stavropolenergo", OAO "Tomskenergo", and OAO "Tulenergo" in accordance with the basic restructuring plan. Also, on 1 April, 9 trunk grid companies* spun off from OAO "Belgorodenergo", OAO "Vladimirenergo", OAO "Voronezhenergo", OAO "Ivenergo", OAO "Mordovenergo", OAO "Mosenergo", OAO "Penzaenergo", OAO "Tverenergo", and OAO "Tomskenergo" are to complete their registration with the authorities.

The following companies will be spun off from the above regional energos:

OAO "Akhenergo"

  • OAO "Arkhangelsk Generation Company"
  • OAO "Arkhangelsk Retail Company"

OAO "Belgorodenergo"

  • OAO "Power Grid Company"
  • OAO "Belgorod Trunk Grid Company"

OAO "Vladimirenergo"

  • OAO "Vladimir Trunk Grids"

OAO "Voronezhenergo"

  • OAO "Voronezh Trunk Grid Company"

OAO "Ivenergo"

  • OAO "Ivanovo Trunk Grids"

OAO "Kirovenergo"

  • OAO "Vyatskaya Electricity and Heat Company"
  • OAO "Kirovenergosbyt"
  • OAO "Kirovenergo Management Company"

* Registration of the trunk grid companies will take place if the Management Board of the Federal Tariffs Service of Russia approves the tariff for the transmission services at its meeting on 29 March 2005.

 OAO "Mordovenergo"

  • OAO "Mordovia Trunk Grid Company"

OAO "Mosenergo"

  • OAO "Management Energy Company"
  • OAO "Trunk Grid Company"
  • OAO "Moscow City Electricity Network Company"
  • OAO "Moscow Heat Network Company"
  • OAO "Moscow Region Electricity Network Company"
  • OAO "Mosenergosbyt"
  • OAO "Specialized Design Bureau for Repair and Modernization"
  • OAO "Mosteplosetenergoremont"
  • OAO "Mosenergosetstroy"
  • OAO "GRES-4" (TPP-4)
  • OAO "GRES-5" (TPP-5)
  • OAO "GRES-24" (TPP-24)
  • OAO "Zagorskaya Pumped Storage Hydroelectric Plant" (PSHP)

OAO "Nizhnovenergo"

  • OAO "Nizhny Novgorod Management Energy Company"
  • OAO "Nizhny Novgorod Retail Company"
  • OAO "Nizhny Novgorod Energy Repair Company"

OAO "Novgorodenergo"

  • OAO "Novgorod Generation Company"
  • OAO "Novgorod Energy Retail Company"
  • OAO "Novgorod Energy Management Company"

OAO "Orelenergo"

  • OAO "Oryol Generation Company"
  • OAO "Oryol Retail Company"
  • OAO "Oryol Energy Management Company"

OAO "Penzaenergo"

  • OAO "Penza Trunk Grid Company"

OAO "Permenergo"

  • OAO "Perm Energy Management Company"
  • OAO "Perm Generation Company"
  • OAO "Yaivinskaya TPP"
  • OAO "Perm Energy Retail Company"
  • OAO "Permenergoremont"
  • OAO "Permenergospetsremont"

OAO "Sverdlovenergo"

  • OAO "Sverdlovsk Generation Company"
  • OAO "Sverdlovsk Energy Management Company"
  • OAO "Sverdlovenergosbyt"
  • OAO "Serovskaya TPP"
  • OAO "Sverdlovsk Energy Service Company"

OAO "Stavropolenergo"

  • OAO "Stavropol Electricity Generation Company"
  • OAO "Stavropol Management Company"
  • OAO "Stavropolenergosbyt"
  • OAO "Stavropol Heat Generation Company"

OAO "Tverenergo"

  • OAO "Tver Trunk Grids"

 OAO "Tomskenergo"

  • OAO "Tomsk Energy Management Company"
  • OAO "Tomsk Distribution Company"
  • OAO "Tomsk Energy Retail Company"
  • OAO "Tomsk Trunk Grids"
  • OAO "Tomskenergoremont"
  • OAO "Tomskelektrosetremont"

OAO "Tulenergo"

  • OAO "Priokskaya Territorial Generation Company"
  • OAO "Tula Energy Management Company"
  • OAO "Tula Retail Company"

 As at 23 March 2005, the state registration procedure has been completed by 85 newly established companies spun off in the course of registration of 26 subsidiaries and dependent companies of RAO "UES of Russia": OAO "Belgorodenergo", OAO "Kalugaenergo", OAO "Bryanskenergo", OAO "Voronezhenergo", OAO "Pskovenergo", OAO "Vladimirenergo", OAO "Volgogradenergo", OAO "Ivenergo", OAO "Karelenergo", OAO "Kostromaenergo", OAO "Marienergo", OAO "Penzaenergo", OAO "Udmurtenergo", OAO "Chuvashenergo", OAO "Astrakhanenergo", OAO "Lipetskenergo", OAO "Rostovenergo", OAO "Ryazanenergo", OAO "Tambovenergo", OAO "Tverenergo", OAO "Yarenergo", OAO "Chelyabenergo", OAO "Kurskenergo", OAO "Mordovenergo", OAO "Nizhnovenergo" and OAO "Smolenskenergo"**.

The ownership structure of the newly established companies mirrors that of the regional energo reorganized in accordance with the basic restructuring plan.

__________________________________________________________________

** Timings of state registration of the companies established as a result of regional energos' restructuring

No.

Regional energo

Companies spun off as a result of regional energo's restructuring and registered with regulators

Date of the new company's state registration

Basic Plan for Restructuring of Regional Energos

1

OAO "Astrakhanenergo"

OAO "Astrakhan Regional Generation Company"

11 January 2005

OAO "Astrakhan Energy Management Company"

11 January 2005

OAO "Astrakhan Energy Retail Company"

11 January 2005

2

OAO "Belgorodenergo"

OAO "Belgorod Retail Company"

01 October 2004

OAO "Heat Energy Company"

01 October 2004

3

OAO "Bryanskenergo"

OAO "Bryansk Generation Company"

01 October 2004

OAO "Bryansk Retail Company"

01 October 2004

OAO "Bryansk Energy Management Company"

19 April 2004

4

OAO "Voronezhenergo"

OAO "Voronezh Generation Company"

31 August 2004

OAO "Voronezh Energy Retail Company"

31 August 2004

OAO "Voronezh Management Energy Company"

31 August 2004

5

OAO "Vladimirenergo"

OAO "Vladimir Energy Retail Company"

01 January 2005

OAO "Vladimir Generation Company"

01 January 2005

OAO "Vladimir Energy Company"

15 January 2005

6

OAO "Volgogradenergo"

OAO "Volzhskaya Generation Company"

01 January 2005

OAO "Volga-Don Energy Complex Management Company"

01 January 2005

OAO "Volgogradenergosbyt"

01 January 2005

7

OAO "Ivenergo"

OAO "Ivanovo Generation Company"

01 January 2005

OAO "Ivanovo Energy Retail Company"

01 January 2005

OAO "Ivanovo Management Energy Company"

14 January 2005

8

OAO "Kalugaenergo"

OAO "Kaluga Generation Company"

01 April 2004

OAO "Kaluga Retail Company"

01 April 2004

OAO "Kaluga Energy Management Company"

01 April 2004

OAO "Kaluga Trunk Grid Company"

01 April 2004

9

OAO "Karelenergo"

OAO "Karelenergogeneratsiya"

01 January 2005

OAO "Karelenergo Management Company"

01 January 2005

OAO "Karelia Energy Retail Company"

01 January 2005

10

OAO "Kostromaenergo"

OAO "Kostroma Generation Company"

01 January 2005

OAO "Kostroma Retail Company"

01 January 2005

11

OAO "Kurskenergo"

OAO "Kursk Generation Company"

01 February 2005

OAO "Kursk Energy Management Company"

01 February 2005

OAO "Kurskenergosbyt"

01 February 2005

12

OAO "Lipetskenergo"

OAO "Lipetsk Generation Company"

11 January 2005

OAO "Lipetsk Energy Management Company"

11 January 2005

OAO "Lipetsk Energy Retail Company"

11 January 2005

13

OAO "Marienergo"

OAO "Mari Regional Generation Company"

01 January 2005

OAO "Mari Regional Management Company"

01 January 2005

OAO "Marienergosbyt"

01 January 2005

14

OAO "Mordovenergo"

OAO "Mordovia Generation Company"

01 February 2005

OAO "Mordovia Heat Network Company"

01 February 2005

OAO "Mordovia Energy Management Company"

01 February 2005

OAO "Mordovia Energy Retail Company"

01 February 2005

15

OAO "Nizhnovenergo"

OAO "Nizhny Novgorod Generation Company"

01 February 2005

16

OAO "Penzaenergo":

OAO "Penza Generation Company"

01 January 2005

OAO "Penza Energy Management Company"

01 January 2005

OAO "Penza Energy Retail Company"

01 January 2005

OAO "Penza Energy Repair Company"

01 January 2005

17

OAO "Rostovenergo"

OAO "Rostov Generation Company"

11 January 2005

OAO "Energosbyt Rostovenergo"

11 January 2005

OAO "Rostovenergo Management Company"

11 January 2005

18

OAO "Ryazanenergo"

OAO "Ryazan Heating Company"

11 January 2005

OAO "Ryazan Management Company"

11 January 2005

OAO "Ryazan Energy Retail Company"

11 January 2005

19

OAO "Smolenskenergo"

OAO "Smolensk Management Energy Company"

01 February 2005

OAO "Smolensk Generation Company"

01 February 2005

OAO "Smolenskenergosbyt"

01 February 2005

OAO "Smolenskaya TPP"

01 February 2005

OAO "Smolensk Energy Repair Company"

01 February 2005

20

OAO "Tambovenergo"

OAO "Tambov Generation Company"

11 January 2005

OAO "Tambov Energy Management Company"

11 January 2005

OAO "Tambov Energy Retail Company"

11 January 2005

21

OAO "Tverenergo"

OAO "Tver Generation Company"

11 January 2005

OAO "Tver Management Energy Company"

11 January 2005

OAO "Tver Energy Retail Company"

11 January 2005

OAO "Tver Energy Repair Company"

11 January 2005

22

OAO "Udmurtenergo"

OAO "Udmurt Territorial Generation Company"

01 January 2005

OAO "Udmurt Management Energy Company"

01 January 2005

OAO "Udmurt Energy Retail Company"

01 January 2005

23

OAO "Chelyabenergo"

OAO Chelyabinsk Generation Company

31 January 2005

OAO "Chelyabinsk Management Energy Company"

31 January 2005

OAO "Chelyabenergosbyt"

31 January 2005

OAO "Yuzhouralskaya TPP"

31 January 2005

24

OAO "Chuvashenergo"

OAO "Chuvash Generation Company"

01 January 2005

OAO "Chuvash Management Company"

01 January 2005

OAO "Chuvash Energy Retail Company"

01 January 2005

OAO "Cheboksarskaya HPP"

01 January 2005

25

OAO "Yarenergo"

OAO "Yaroslavl Energy Company"

11 January 2005

OAO "Yaroslavl Management Energy Company"

11 January 2005

OAO "Yaroslavl Retail Company"

11 January 2005

OAO "Yarenergoremont-Holding"

22 November 2004

OAO "ATP Yarenergo-Holding"

22 November 2004

"Non-basic" Plan for Restructuring of Regional Energos

26

OAO "Pskovenergo"

OAO "Pskovenergosbyt"

18 August 2004

OAO "Pskovenergoagent"

18 August 2004

OAO "Pskovenergoauto"

23 August 2004

OAO "Pskovenergoservice"

23 August 2004

Information for the attention of stock market participants:

Shares in a spin-off company are distributed among shareholders of the company reorganized through spin-off.

Shares in the spin-off companies are distributed to the regional energos' shareholders at a ratio determined by the reorganization resolution, taking into account the number and class of energos' shares held by each shareholder.

Shareholders who voted against the resolution to reorganize the regional energo or did not take part in the voting on that matter will receive shares in the newly established companies of the corresponding class in the amount equal to the number of shares of that class in the reorganized regional energo held by them as at the date of share placement.

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 credited to the securityholder accounts with registrars and to the securities safekeeping accounts at securities depositories in accordance with the records in the share register of the regional energo concerned as at such date.

The shares will be credited to the securityholder accounts by the Registrar to be appointed by the Boards of Directors of the newly established companies.

Share issues of the spin-off companies are expected to be registered with the regulators within one and a half months after the date of companies' state registration. Transactions in such shares may be effected after the state registration of the issues.

 

 

 

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