On July 28, 2010 the meeting of the Board of Directors of JSC RusHydro (ticker symbol: HYDR; MICEX, RTS and LSE) was held in person.

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The Board of Directors elected Shmatko Sergey Ivanovich, Ministry of Energy of the Russian Federation, the Chairman of the Board of Directors.

In accordance with Clause 5.3. of the Regulation on Procedure of Convocation and Holding of the Meetings of the Board of Directors of the Company (approved by the General Meeting of Shareholders of the Company on 22.06.2007, Minutes No. 254), the decision with respect to the issue «On election of the Chairman of the Board of Directors» is to be taken necessarily at the first meeting of the Board of Directors.

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The Board of Directors of JSC RusHydro elected Seliverstova Marina Valeryevna the Deputy Chairman of the Board of Directors of the Company.

Seliverstova Marina Valeryevna — Head of the Federal Agency of Water Resources, Class 2 Active State Advisor of the Russian Federation.

Since 2004, she has worked in the Federal Agency of Water Resources. First, she held the post of the Head of the Economic and Legal Support Department (2004–2005), then she was the Deputy Head of the Federal agency of Water Resources (2005–2009). On July 15, 2009 she was elected the Head of the Federal agency of Water Resources.

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The Board of Directors elected the Audit Committee at JSC RusHydro Board of Directors consisting of the following members:

• Sharipov Rashid Ravelevich, Member of the Board of Directors of JSC RusHydro

• Kurtser Grigory Markovich, Member of the Board of Directors of JSC

• Malyshev Andrey Borisovich, Member of the Board of Directors of JSC

Sharipov Rashid Ravelevich was elected the Chairman of the Audit Committee.

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The Board of Directors elected the Personnel and Remuneration Committee consisting of the following members:

• Kurtser Grigory Markovich, Member of the Board of Directors of JSC RusHydro

• Zimin Victor Mikhailovich, Member of the Board of Directors of JSC RusHydro

• Volkov Eduard Petrovich, Member of the Board of Directors of JSC RusHydro

Kurtser Grigory Markovich was elected the Chairman of the Personnel and Remuneration Committee.

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The Board of Directors elected the Reliability, Energy Efficiency and Innovations Committee at the Board of Directors of the Company consisting of the following members:

• Kutyin Nikolay Georgievich, Head of Russian Federal Service for Ecological, Technical and Atomic Supervision (Rostekhnadzor), Member of the Board of Directors of JSC RusHydro

• Volkov Eduard Petrovich, General Director of OJSC Krzhizhanovsky Power Engineering Institute, Member of the Board of Directors of JSC RusHydro, member of RAS (Russian Academy of Science)

• Rizhinashvili George Ilyich, Deputy Chairman of the Management Board of JSC RusHydro

• Alzhanov Rakhmetulla Shamshievich, Deputy Chairman of the Management Board of JSC RusHydro

• Kudriaviy Victor Vasilyevich, Advisor to President of CJSC Eurocement Group, Member of the Board of Directors of JSC RusHydro, Doctor of Engineering Science

• Mikhailov Sergey Alekseevich, Director of the State Policy and Energy Effectiveness Department of the Ministry of Energy of Russia

• Bogush Boris Borisovich, Member of the Management Board of JSC RusHydro

• Bellendir Evgeny Nikolaevich, General Director of B.E. Vedeneev All-Russian Research Institute of Hydraulic Engineering, Doctor of Engineering Science

• Maslov Sergey Vladimirovich, Member of the Management Board of JSC RusHydro

• Zimin Victor Mikhailovich, Chairman of the Government of the Republic of Khakassia, Member of the Board of Directors of JSC RusHydro

Kutyin Nikolay Georgievich was elected the Chairman of the Reliability, Energy Efficiency and Innovations Committee at the Board of Directors of JSC RusHydro.

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The Board of Directors elected the Strategy Committee consisting of the following members:

• Malyshev Andrey Borisovich, Deputy General Director of SC Rosnanotekh

• Tikhonova Maria Gennadyevna, Director of Economic Regulation and Property Relations Department in the Fuel and Energy Complex of the Ministry of Energy of Russia

• Yugov Alexander Sergeevich, Head of Oil and Gas Industry and Mineral Raw Materials Unit of the Infrastructure Branches and Organizations Department of the Military-Industrial Complex of Rosimushchestvo

• Mezhevich Valentin Efimovich, Member of the Council of Federation of the Federal Assembly, First Deputy Chairman of the Commission for Natural Monopolies of the Council of Federation

• Gavrilov Vsevolod Valeryanovich, Head of the Energy Saving and Natural Resource Project Management Directorate of Sberbank of Russia

• Beloborodov Sergey Sergeevich, Member of the Board of Directors of JSC RusHydro

• Volkov Eduard Petrovich, Member of the Board of Directors of JSC RusHydro

• Danilov-Danilyan Victor Ivanovich, Director of Institute of Water Problems of RAS (Russian Academy of Science)

• Rizhinashvili George Ilyich, Deputy Chairman of the Management Board of JSC RusHydro

• Gorev Evgeny Evgenyevvich, Member of the Management Board of JSC RusHydro

Malyshev Andrey Borisovich was elected the Chairman of the Strategy Committee.

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The Board of Directors of JSC RusHydro elected the Investment Committee consisting of the following members:

• Ballo Anatoly Borisovich, Deputy Chairman of the Management Board of State Corporation «Bank for Development and Foreign Economic Affairs (Vnesheconombank)»

• Nozdrachev Denis Aleksandrovich, Chairman of the Management Board of JSCB Sviaz-Bank OJSC

• Poluboyarinov Mikhail Igorevich, Director of Infrastructure Department of State Corporation «Bank for Development and Foreign Economic Affairs (Vnesheconombank)»

• Egorov Maxim Borisovich, Head of Directorate for Price determination control in electric utilities industry of the Federal Tariff Service

• Mantrov Mikhail Alekseevich, Deputy Chairman of the Management Board of JSC RusHydro

• Rizhinashvili George Ilyich, Deputy Chairman of the Management Board of JSC RusHydro

• Tatsiy Vladimir Vitalyevich, First Vice President of JSC Gazprombank

• Taits Matvey Vladimirovich, Senior Analyst of the Analytic Researches Department of Uralsib Capital LLC

• Tikhonova Maria Gennadyevna, Director of the Economic Regulation and Property Relations Department in the Fuel and Energy Complex of the Ministry of Energy of the Russian Federation

• Nikonov Vasily Vladislavovich, Director of the Electric Power Industry Development Department of the Ministry of Energy of the Russian Federation

Ballo Anatoly Borisovich was elected the Chairman of the Investment Committee.