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Unified Energy System

March 9, 2005

OAO "WGC-2" completes state registration

Moscow, 9 March 2005. Today, OAO "Second Generation Company of the Wholesale Electricity Market" (OAO "WGC-2")* was registered with Inspectorate No. 2607 of the Federal Tax Service of Russia for the city of Izobilny, Stavropol Kray.

Pursuant to the Resolution of RAO "UES of Russia" On the Establishment of OAO "WGC-2", Mikhail Kuzichev (currently CEO of OAO "Krasnoyarskenergo") was appointed Director General of the newly established company.

Besides Mikhail Kuzichev, the following persons have been elected to the Board of Directors of OAO "WGC-2": Vasily Nikonov, Deputy Managing Director, Business Unit No. 2, RAO "UES of Russia"; Yury Zhelyabovsky, Head of Economic Planning and Financial Control Department, Business Unit No. 2, RAO "UES of Russia"; Pavel Shchedrovitsky, Director, Project Implementation Center, Business Unit No. 2, RAO "UES of Russia"; Sergey Kosarev, Head of Ownership Regulation Department, Corporate Center of RAO "UES of Russia"; Elena Medvedeva, Head of Regulatory Support Department, Reform Management Center, RAO "UES of Russia"; Wolfgang Skribot, Managing Director, Corporate Finance Department, ZAO "Gazprombank", David Herne, Managing Director, Halcyon Advisors; Alexey Glushchenko, Deputy Director General for Assets Management, ZAO "KES"; Evgeny Bykhanov, Deputy Director General, Institute of Professional Directors Foundation, and Alexander Orlov, Advisor, Institute of Professional Directors Foundation.

The resolution to establish OAO "WGC-2" 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 "WGC-2" at the time of establishment will be RUB10.8 billion and will be 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-2": OAO "Pskovskaya TPP", OAO "Serovskaya TPP", OAO "Stavropolskaya TPP", OAO "Surgutskaya TPP-1", and OAO "Troitskaya TPP".




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