MINUTES ?2007-3? of Volzhskaya TGC extraordinary general shareholders’ meeting

Company name and location	Open Joint-Stock Company Volga Territorial Generation Company (Russia, Samara, Mayakovskogo str. 15)
Type of the general meeting	extraordinary
Meeting format:	Absentee ballot
Last date of voting papers reception:	September 30, 2007
Mailing address for sending completed ballots related to the items on the agenda:	- 443100, Samara, Mayakovskogo str., 15, Volga TGC; - 105082, Moscow, Bolshaya Pochtovaya str., 34, bld.8 – CDM; - 443080, Samara, 4th proyezd 57, liters ?, ?1, office 508 – CDM Samara Branch; - 410005, Saratov, B. Sadovaya str., 239, bld. 42, office 201 - CDM Saratov Branch.
Date of persons entitled to participate in general shareholders’ meeting list compilation	August 16, 2007

Chairman of the meeting – Volga TGC Chairman of the Board – Avetisjan Vladimir Evgenievich.

Secretary of the meeting – Volga TGC corporate management department head Stitzuk Yury Vyacheslavovich.

Functions of the tabulation commission are fulfilled by the Company Registrar – OJSC «Central Moscow Depositary»..

Agenda of the meeting

Payment (declaration) of dividends on the Company’s shares as on the results of 6 months of 2007.

ITEM ?1: Payment (declaration) of dividends on the Company’s shares as on the results of 6 months of 2007.

Vote results for Item ?1.

Quantity of votes of the persons who were included in the list of persons entitled to participate in the General Shareholders’ Meeting	26 094 678 415
Quantity of votes of the persons – holders of the distributed shares, entitled to participate in the general shareholders meeting	26 116 076 165
Quantity of votes of the persons who participated in the General Shareholders’ Meeting concerning this item on the agenda	20 618 579 598
Quorum on this item	78,9498%

Voting results	Number of votes	% of all having the vote
«FOR»	20 615 304 898	99,9841
«AGAINST»	1 431 510	0,0069
«ABSTAINED»	577 677	0,0028

Quantity of votes in the rejected ballots - 1 265 513

DECISION OF THE MEETING:

To pay the dividends on the Company’s ordinary shares as on the results of 6 months of 2007, in the amount of 0,002692 rbl. per each ordinary share of the Company in money terms within 60 days from the date of the decision making on the dividends payment.

Chairman of the meeting V.?. Avetisjan

Secretary of the meeting Y.V. Stitzuk

Minutes drawn up on 09.10.07.