Moscow, May 4, 2008.  The reorganization of JSC INTER RAO UES, Severo-Zapadnaya TETs and Ivanovskiye PGU in the form of a merger with and into OJSC INTER RAO UES (before renaming known as Sochinskaya TES) was completed on May 1, 2008. As a result of the merger, the above companies have become OJSC INTER RAO UES branches and ceased to exist as independent joint-stock companies.

The resolution to reorganize JSC INTER RAO UES by merging it with Sochinskaya TES (renamed as OJSC INTER RAO UES) was passed at the Extraordinary General Meeting of JSC INTER RAO UES on December 19, 2007. By that time, resolutions regarding integration with Sochinskaya TES had already been passed by Extraordinary General Meetings of Sochinskaya TES, Severo-Zapadnaya TETs, Ivanovskiye PGU, and Kaliningradskaya TETs-2.

The reorganization of OJSC INTER RAO UES (Sochinskaya TES) is implemented in two stages. Stage one, involving the merger of JSC INTER RAO UES, Severo-Zapadnaya TETs and Ivanovskiye PGU with and into OJSC INTER RAO UES, has already been completed. The final stage of the reorganization, in the course of which OJSC INTER RAO UES will be used as the basis to complete the formation of a single operating company with direct interests held by shareholders of RAO UES of Russia and of all the companies being amalgamated, will see OJSC INTER RAO UES merged with Kaliningradskaya TETs-2 and INTER RAO UES Holding to be spun off from RAO UES of Russia. 

The reorganization of OJSC INTER RAO UES is scheduled to be completed in July 2008. 

Documents proving the reorganization of OJSC INTER RAO UES in the form of a merger with JSC INTER RAO UES, Severo-Zapadnaya TETs and Ivanovskiye PGU are posted on the website of Sochinskaya TES in the Section for Shareholders and Investors at https://tes-sochi.ru/tes/rasinfo/egrul.php