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RAO UES Reorg Commission Recommends the Board to Approve 6 June as Record Date for RAO UES Reorganization

Moscow, 7 March 2008. The RAO UES Reorganization Commission recommended that the Board of Directors approve 6 June 2008 as the record date for the completion of the reorganization. The RAO UES Management Board will submit this issue for review to the Board of Directors on 4 April 2008.

The shareholders of RAO "UES of Russia" of record on the above date will be entitled to receive shares in the spin-off companies. A shareholder who buys RAO UES shares after the record date will receive only FGC shares in the course of merger of RAO UES with and into FGC.

6 June was recommended as the record date for the completion of the reorganization after preliminary consultations with the registrars and securities depositories holding shares of RAO UES and the post-restructuring companies and reviewing the procedure for distribution of post-restructuring companies' shares among RAO UES shareholders.

The registrars of the Parent Company and the spin-off companies will need at least three weeks to create the share register and distribute the shares. In that case, shares in the spin-off companies will be distributed among RAO UES shareholders in early July, as previously planned.

If the Board of Directors approves the proposal of the RAO UES Reorganization Commission, 6 June will be the last day RAO UES shares are traded on stock exchanges.


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