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Unified Energy System

March 22, 2005

OAO "TGC-5" completes state registration

Moscow, 22 March 2005. Today, OAO "Territorial Generation Company No. 5" (OAO "TGC-5") was registered with the Inspectorate of the Federal Tax Service of Russia for Leninsky District, city of Cheboksary.

Pursuant to the Resolution of RAO "UES of Russia" On the Establishment of OAO "TGC-5", Vladimir Lebedev was appointed Director General of the newly established company. Until recently Mr. Lebedev worked as First Deputy Chairman of the Kirov Region Government. Prior to that, in 2000-2004, he served as Director for Development at OAO "Nizhnovenergo" and Director General at OAO "Kirovenergo".

Besides Vladimir Lebedev, the following persons were elected to the Board of Directors of OAO "TGC-5": Ilya Gorev, Deputy Managing Director, Executive Director of Business Unit No. 1 at RAO "UES of Russia"; Dmitry Akhanov, Head of Strategy Department of the Corporate Center at RAO "UES of Russia"; Sergey Vasilyev, Head of Legal Department of the Corporate Center at RAO "UES of Russia"; Vladimir Kolushov, Manager of the Reform and Property Directorate of Business Unit No. 1 at RAO "UES of Russia"; Mikhail Vasilyev, Head of the St.-Petersburg Representative Office of NCH Advisors, Inc.; Anatoly Chabak, Director General of OAO "NIKoil-Sberezheniya Management Company"; Alexander Shumilov, Deputy Director of the Energy Sector Strategy Department at OAO "SUEK" (SIBENCO); Oleg Dubnov, First Deputy Director General, Institute of Professional Directors Foundation; Yury Nekipelov and Vladislav Yaroshevich, Advisors with the Institute of Professional Directors Foundation.

The resolution to establish OAO "TGC-5" as a wholly-owned subsidiary of OAO RAO "UES of Russia" was approved by the Board of Directors of RAO "UES of Russia" on 24 December 2004.

The charter capital of OAO "TGC-5", at the time of establishment, is RUB10 million and is divided into 1 billion ordinary shares.

Within one month after the state registration of the company, OAO RAO "UES of Russia" will acquire, for cash consideration, at least 50% plus one voting share in OAO "TGC-5".

The Board of Directors of RAO "UES of Russia" approved the lease to OAO "TGC-5" of the generation assets owned by OAO "Kirovenergo" (after the reorganization of OAO "Kirovenergo" assets of OAO "Vyatskaya Electricity and Heat Company"), OAO "Mari Regional Generation Company" (spun off from OAO "Marienergo"), OAO "Udmurt Territorial Generation Company" (spun off from OAO "Udmurtenergo"), and OAO "Chuvash Generation Company" (spun off from OAO "Chuvashenergo").

Later on, shareholders of the generation companies leasing their assets to OAO "TGC-5" will be offered shares in OAO "TGC-5".

OAO "TGC-5" is under the charge of Business Unit No. 1 of RAO "UES of Russia" headed by Mikhail Abyzov, member of the Management Board of OAO RAO "UES of Russia".

 

 

 

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