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Press-release

ZAO "Inter RAO UES", OAO "Severo-Zapadnaya CHPP", and OAO "Ivanovskie PGU" Merged with OAO "Inter RAO UES"

Moscow, 4 May 2008. On 1 May 2008, ZAO "Inter RAO UES", OAO "Severo-Zapadnaya CHPP", and OAO "Ivanovskie PGU" completed their merger with and into OAO "Inter RAO UES" (before the name change, OAO "Sochninskaya TPP"). As a result of the merger, the companies became branches of OAO "Inter RAO UES" and ceased to exist as independent joint stock companies.

The merger of ZAO "Inter RAO UES' with and into OAO "Sochiskaya CHPP (which subsequently changed name to OAO "Inter RAO UES") was approved at the EGM of ZAO "Inter RAO UES" held on 19 December 2007. By that time, the EGMs of OAO "Sochniskaya TPP", OAO "Severo-Zapadnaya CHPP", OAO "Ivanovskie PGU", and OAO "Kaliningradskaya CHPP-2" approved the companies' mergers with and into OAO "Sochinskaya TPP".

OAO "Inter RAO UES" (OAO "Sochinskaya TPP") is planned to be reorganized in two phases. The first phase which involved merger of ZAO "Inter RAO UES", OAO "Severo-Zapadnaya CHPP", and OAO "Ivanovskie PGU" with and into OAO "Inter RAO UES", has been completed.

The final phase of the reorganization will see the completion of establishment of a unified operating company on the basis of OAO "Inter RAO UES", with the shareholders of RAO "UES of Russia" and all merged companies directly participating in its capital, after OAO "Kaliningradskaya CHPP-2" and OAO "Inter RAO UES Holding" spin off from RAO "UES of Russia" and merge with and into OAO "Inter RAO UES".

The reorganization of OAO "Inter RAO UES" is scheduled to be completed in July 2008.

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Contact Information:

Stas Degtyarev
Press Office Expert
+7 (495) 710-6239

Shareholder Relations
+7 (495) 620-1609


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