Moscow, 23 March 2005. Today, the last of the seven wholesale generation companies, OAO "First Generation Company of the Wholesale Electricity Market" (OAO "WGC-1") was registered with Inspectorate No. 3 of the Federal Tax Service of Russia for Tyumen Region.

Thus, all seven WGCs, three out of the four Interregional Distribution Companies (IDCs), and four out of fourteen Territorial Generation Companies (TGCs) have been registered to date.

Pursuant to the Resolution of RAO "UES of Russia" On the Establishment of OAO "WGC-1", Vladimir Khlebnikov (currently First Deputy Chairman of the Management Board of NP "Administrator of Trading System" (NP "ATS")) was appointed Director General of the newly established company.

The Board of Directors of OAO "WGC-1" consists of the following members: Vladimir Khlebnikov; Vladimir Avetisyan, Member of the Management Board, Executive Director of Business Unit 2, RAO "UES of Russia"; Dmitry Zhurba, Member of the Management Board, Financial Director, RAO "UES of Russia"; Dmitry Akhanov, Head of Strategy Department of the Reform Management Center, RAO "UES of Russia"; Yuliya Shakhnovskaya, Director of the Center for Organizing the Activities of Wholesale Market Participants of Business Unit 2, RAO "UES of Russia"; Marina Kopyeva, Deputy Head of Economic Planning and Financial Control Department of Business Unit No. 2, RAO "UES of Russia"; Alexey Semeyko, Head of Investment Department, ZAO "ESN"; Alexander Ladugin, Deputy Director General, OOO "NRK-Energo Management Company"; Wolfgang Skribot, Managing Director of Corporate Finance Department, ZAO "Gazprombank"; Dmitry Shtykov, Director General, Institute of Professional Directors Foundation; and Oleg Dubnov, First Deputy Director General, Institute of Professional Directors Foundation.

The resolution to establish OAO "WGC-1" 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.

At the time of establishment, the charter capital of OAO "WGC-1" is RUB17.25 billion and is divided into ordinary shares of RUB1 par value.

Pursuant to Order of the Government of the Russian Federation No. 1254-r of 1 September 2003, the following companies were included in OAO "WGC-1": Verkhne-Tagilskaya TPP (RAO "UES of Russia" ), OAO "Nizhnevartovskaya TPP" (OAO "Tyumenenergo"), OAO "Urengoyskaya TPP" (OAO "Tyumenenergo"), OAO "Iriklinskaya TPP" (OAO "Orenburgenergo"), OAO "Permskaya TPP", and OAO "TPP-4" (OAO "Mosenergo").