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RAO UES Receives Five Bids for "Government Stake" in TGC-11 from Potential Strategic Investors

Moscow 21 April 2008. RAO "UES of Russia" has received five bids for its 'government-stake' shares in TGC-11 from strategic investors. Currently, these bids are being evaluated in respect of their accordance with the requirements.

RAO "UES of Russia" also states that it has not received any official bids for the shares held by OAO "Rosneft Oil Company" or its subsidiaries in energy companies, including TGC-11 shares for USD2 billion, as reported by the mass media.

As to the "shares-for-withdrawal of claims" scheme is unacceptable for RAO "UES of Russia".

RAO "UES of Russia" expects that the situation concerning TGC-11 will be resolved by the ad-hoc group comprising representatives of the Ministry of Industry and Energy, RAO "UES of Russia", and OAO "Rosneft Oil Co".


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Stas Degtyarev
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+7 (495) 710-6239

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