Moscow, 23 March 2005. The Federal Service for Financial Markets (FSFM) of Russia registered on 22 March 2005 the share issues of companies spun off as a result of reorganization of OAO "Ivenergo", OAO " Tver Energy System".

The FSFM registered share issues and share placement reports filed by the following companies: OAO "Tver Energy Retail Company", OAO "Tver Management Energy Company", OAO "Tver Energy Repair Company".

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

1. OAO "Tver Energy Retail Company":

• 346,136,000 uncertificated registered preferred shares, par value RUB0.05 per share, for a total value of RUB17,306,800. The state registration number assigned to the share issue is 1-01-65091-D.
• 115,378,000 uncertificated registered preferred shares, par value RUB0.05 per share, for a total value of RUB5,768,900. The state registration number assigned to the share issue is 2-01-65091-D.

2. OAO "Tver Management Energy Company":

• 346,136,000 uncertificated registered preferred shares, par value RUB0.0003 per share, for a total value of RUB103,840.8. The state registration number assigned to the share issue is 1-01-65088-D.
• 115,378,000 uncertificated registered preferred shares, par value RUB0.0003 per share, for a total value of RUB34,613.4. The state registration number assigned to the share issue is 2-01-65088-D.

3. OAO "Tver Energy Repair Company":

• 346,136,000 uncertificated registered preferred shares, par value RUB0.06 per share, for a total value of RUB20,768,160. The state registration number assigned to the share issue is 1-01-65089-D;
• 115,378,000 uncertificated registered preferred shares, par value RUB0.06 per share, for a total value of RUB6,922,680. The state registration number assigned to the share issue is 2-01-65089-D.

The above companies finalized their state registration on 11 January 2005.

Before that, 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", and OAO "Rostovenergo".

The FSFM registered the share issues and share placement reports of the following companies: OAO "Kaluga Energy Management Company", OAO "Kaluga Generation Company", OAO "Kaluga Trunk Grid Company", OAO "Kaluga Retail Company", OAO "Bryansk Energy Management Company", OAO "Bryansk Generation Company", OAO "Bryansk Retail Company", OAO "Heat Energy Company", OAO "Belgorod Retail Company", OAO "Voronezh Management Energy Company", OAO "Voronezh Generation Company", OAO "Voronezh Energy Retail Company", OAO "Cheboksarskaya HPP", OAO "Chuvash Energy Retail Company", OAO "Chuvash Generation Company", OAO "Chuvash Management Company", OAO "Vladimir Generation Company", OAO "Vladimir Energy Retail Company", OAO "Mari Regional Generation Company", OAO "Mari Regional Management Company", OAO "Marienergosbyt", OAO "Penza Generation Company", OAO "Penza Energy Management Company", OAO "Penza Energy Retail Company", OAO "Penza Energy Repair Company", OAO "Udmurt Territorial Generation Company", OAO "Udmurt Management Energy Company", OAO "Udmurt Energy Retail Company", OAO "Karelenergo Management Company", OAO "Karelenergogeneratsia", OAO "Karelia Energy Retail Company", OAO "Ryazan Energy Retail Company", OAO "Ryazan Heat Supply Company", OAO "Ryazan Management Company", OAO "Kostroma Retail Company", OAO "Kostroma Generation Company", OAO ", OAO "Ivanovo Generation Company", OAO "Ivanovo Management Energy Company", OAO "ATP Yarenergo-Holding", OAO "Yarenergoremont-Holding", OAO "Yaroslavl Management Energy Company", OAO "Yaroslavl Energy Company", OAO "Yaroslavl Energy Retail Company", OAO "Rostov Generation Company", OAO "Energosbyt Rostovenergo", OAO "Rostovenergo Management Company", and OAO "Vladimir Energy Company".

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