Moscow, 4 March 2004. The Chairman of the Management Board of RAO "UES of Russia" Anatoly Chubais has given the following comment on the intention of the First Deputy Chairman of RAO UES Management Board Leonid Melamed to leave the Company:

Many find it hard to believe that a man may leave such a position not because of a conflict, scandal, or confrontation. That's quite understandable, since there are few examples of such kind known in the domestic business. In my opinion, Leonid Melamed is one of the most highly qualified financial managers in this country, and his contribution to the turnaround of RAO "UES of Russia" and the transformation of RAO "UES of Russia" into a modern company is unique.

I appreciate Leonid Borisovich's personal qualities and believe that people of such class, such rank have the right to plan their life themselves and take a decision to move from one stage to another.

People from RAO "UES of Russia" now occupy key positions in the Government of the Russian Federation, the Federation Council, business companies, and I am certain that Leonid Melamed will be in high demand.

I am sure that we will preserve friendly relations, regardless of where Leonid is going to work.