Moscow, 11 February 2005. At its regular meeting held today, the Board of Directors of OAO "Third Generation Company of the Wholesale Electricity Market" (OAO "WGC-3") considered the priority areas of the Company's activities.

Daniil Nikitin, Chairman of the Board of Directors of OAO "WGC-3" and Executive Director of Business Unit No. 1 of OAO RAO "UES of Russia" said that the Board approved the action plan to form the WGC, and appointed Metropol Investment Financial Company as the Company's financial adviser.

OAO "WGC-3" completed its state registration with the Interdistrict Inspectorate No. 2 of the Ministry of Taxes and Levies of Russia for the Republic of Buryatia in late November 2004.

Currently, OAO "WGC-3" includes 5 power plants: OAO "Kostromskaya TPP", OAO "Pechorskaya TPP", OAO "Gusinoozerskaya TPP", OAO "Kharanorskaya TPP" and OAO "Cherepetskaya TPP". By June 2005, upon completion of the relevant corporate procedures and assets evaluation, OAO "Yuzhno-Uralskaya TPP" will merge with and in to OAO "WGC-3". This will bring the total installed capacity of the power plants within OAO "WGC-3" to 8,497 MW.