Moscow. 1 October 2004. At its regular meeting held 27 September, the Valuation Committee under the Board of Directors of RAO "UES of Russia" considered the progress made in the establishment of Wholesale Generation Company-3 (WGC-3). Having heard the reports presented by representatives of the companies which performed property appraisal and the opinion expressed by Deloitte & Touche, which reviewed the reports, the Committee resolved that the that the presented reports on the market value of shares of OAO "Kostromskaya TPP", OAO "Pechorskaya TPP", OAO "Kharanorskaya TPP", OAO "Cherepetskaya TPP", and OAO "Gusinoozerskaya TPP" may be used for determining the money value of the property contributed to the authorized capital of OAO "WGC-3".

The meeting also considered the procedure for working with appraisal firms in the process of valuation of property owned by the SDCs of RAO "UES of Russia".