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Press-release

RAO UES Holds Meetings with Shareholders to Discuss the Final Phase of the Company's Reorganization

Moscow, 30 May 2008. RAO "UES of Russia" is reviewing the results of meetings of the Company's senior executives with shareholders to discuss the final phase of the Company's reorganization. The next series of such meetings is scheduled for June.

During the meetings, private individuals holding shares in RAO "UES of Russia" were able to receive all relevant information on the final phase of the Company's reorganization and distribution of shares in the energy companies to be spun off from RAO "UES of Russia".

The key question was what assets and when RAO UES shareholders will receive after the reorganization of RAO "UES of Russia" and what they are to do to receive them? By way of reminder, as a result of reorganization, RAO "UES of Russia" will distribute shares in 23 major energy companies—five WGCs, thirteen TGCs, FGC, HydroWGC, INTER RAO UES, IDC Holding, and OAO "RAO Energy Systems of the East"—to its shareholders.

Shareholders of RAO "UES of Russia" of record on 6 June 2008 will not need to take any actions to receive their shares in the spin-off companies in exchange for their shares in RAO "UES of Russia". On the record date, 6 June 2008, the Company will determine its shareholders entitled to shares in energy companies spun off from RAO "UES of Russia", and RAO UES shares will stop to be traded on the stock exchanges.

It is important to remember that a shareholder who purchases RAO UES shares on the OTC market after 6 June 2008 and holds them until the completion of the Company's reorganization (1 July 2008) will not be entitled to receive shares in each of the energy companies spun off from RAO "UES of Russia". Such shareholders will be entitled to receive about 2.3 ordinary shares or 2.1 preferred shares in Federal Grid Company for each ordinary and preferred share in RAO "UES of Russia", respectively.

That is why RAO "UES of Russia" strongly recommends that shareholders close all transactions in RAO UES shares by 6 June (inclusive) and refrain from transactions in RAO UES shares that date.

Shareholders owning RAO UES shares on 6 June will receive shares in the spun off energy companies between 4 July and 14 July 2008. It is expected that shareholders whose shares are directly registered in their names with in STATUS Registration Company will receive such shares not later than 4 July, and the shareholders holding shares through depositaries will receive them before 14 July. Shareholders will not have to pay any fees for the processing such new shares. The Registrar will credit the shares to such shareholders' accounts free of charge.

After RAO "UES of Russia" ceases its operations (1 July 2008), registrars and depositories will charge their standard rates for handling shares in the companies spun off from RAO "UES of Russia".

If a shareholder decides to sell its shares in RAO "UES of Russia" or the shares in the spin off companies received instead of his shares in RAO "UES of Russia", RAO "UES of Russia" recommends to sell them through professional stock market participants licensed by the FSFM of Russia to perform transactions in securities (brokers, investment companies or investment banks). Shareholders using the services of private dealers or the so-called "buyers" run the risk of being defrauded. As a result of such deal they may lose their shares or sell them at an underestimated price.

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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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