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Press-release

FSFM of Russia Registers Share Placement Reports of UES FGC, TGC-1, and TGC-2

Moscow, 14 August 2008. The Federal Service for Financial Markets of Russia registered reports on the results of additional issue of ordinary shares of OAO "Federal Grid Company of the Unified Energy System" issued in exchange for ordinary and preferred shares in OAO "State Holding"; a report on the results of the additional issue of ordinary shares in OAO "TGC-1" (the issue was carried out in the course of the spin-off of OAO "TGC-1 Holding" from RAO "UES of Russia" and its simultaneous merger with and into OAO "TGC-1" through conversion of ordinary and preferred shares in OAO "TGC-1 Holding" into additional shares of OAO "TGC-1"), and a report on the results of the additional issue of uncertificated registered ordinary shares in OAO "TGC-2" (the issue was carried out in the course of the spin-off of OAO "TGC-2 Holding" from RAO "UES of Russia" and its simultaneous merger with and into OAO "TGC-2" through conversion of ordinary and preferred shares in OAO "TGC-1 Holding" into additional shares of OAO "TGC-2").

These additional share issues were part of the technical issues of additional shares by the companies comprising the intended sector structure during the merger of the respective holding companies spun off from RAO "UES of Russia" during the final phase of the Company's reorganization. The technical issue shares held by any RAO UES shareholder in each company comprising the intended sector structure will not exceed 3 percent.

Under applicable laws, shareholders are free to dispose of all their shares in OAO "UES FGC", OAO "TGC-1", OAO "TGC-2", which they have received in exchange for their shares in RAO "UES of Russia" as a result of the Company's reorganization.

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Stas Degtyarev
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