On 16 September, 2008, the Federal Service for the Financial Markets registered an additional issue of ordinary JSC RusHydro shares placed by closed subscription in favour of the Russian Federation.

The securities of the additional issue numbered 4,300,000,000 ordinary shares at a nominal value of 1 rouble each, the total amount of the additional issue being 4,300,000,000 roubles.

The additional issue was allocated state registration number 1-01-55038-Å-035D.

Form of payment for the additional shares – monetary funds; no possibility is envisaged of making payment for the shares by means of other property.

The resolution on increasing the authorised equity capital of JSC RusHydro was adopted by the Annual General Meeting of the shareholders of JSC RusHydro on 25 June, 2008.

The placement price of the additional shares (including for persons enjoying the preemptive right to acquire the additionally placed shares) was determined by the Board of Director of JSC RusHydro (Minutes No.  53 dated 14 May, 2008) in the amount of 2.02 roubles per additional ordinary share.  The market value of the shares in JSC RusHydro was established as of 9 January, 2008.

The shareholders in JSC RusHydro that voted against or did not participate in the voting on increasing the authorised equity capital through placement of additional  shares by closed subscription (at the Annual General Meeting held on 25 June, 2008) enjoy the preemptive right to acquire additional shares in a number proportionate to the number of JSC RusHydro shares held by them (as of the date on which the list of persons entitled to participate in the Annual General Meeting of Shareholders was compiled, that is, 15 May, 2008).