Moscow. 5 June 2006. As part of the process to complete the establishment of OAO "WGC-2" and OAO "WGC-6", the wholesale generation companies exchanged their additional share issues for shares in the corresponding AO-power plants held by RAO "UES of Russia" and minority shareholders.
After completion of the share exchange process, OAO "WGC-2" and OAO "WGC-6" ceased to be wholly-owned subsidiaries of RAO "UES of Russia". The stakes held by RAO "UES of Russia" in OAO "WGC-2" and OAO "WGC-6" are 84.65% and 96.91%, respectively.
In early August 2006, Shares of ??? "WGC-2" ? ??? "WGC-6" are expected to be included in the List of non-listed securities of ZAO "MICEX Stock Exchange" and the list of securities admitted to trading but not included in the Quotation Lists of NP "RTS Stock Exchange".
The target model for OAO "WGC-2" is to be achieved through merger of OAO "Pskovskaya TPP", OAO "Stavropolskaya TPP", OAO "Surgutskaya TPP-1", OAO "Serovskaya TPP", and OAO "Troitskaya TPP" with and into OAO "WGC-2"; the target model for OAO "WGC-6" is to be achieved through merger of OAO "TPP-24", OAO "Kirishskaya TPP", OAO "Krasnoyarskaya TPP-2", OAO "Novocherkasskaya TPP", OAO "Ryazanskaya TPP", OAO "Cherepovetskaya TPP" with and into OAO "WGC-6". After the merger of AO-power plants with OAO "WGC-2" and OAO WGC-6" is complete, the stakes held by RAO "UES of Russia" in these companies are expected to change to 80.92% and 93.48%, respectively.
The power plants' merger with and into OAO "WGC-2" and OAO WGC-6" is scheduled for October 2006.
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* The decision to establish OAO "WGC-2" was made by the Board of Directors of RAO "UES of Russia" on 24 December 2004. OAO "WGC-2" was registered on 9 March 2005 with the Inspectorate of the Federal Tax Service of Russia for the Izobilnensky District, Stavropol Kray. The Director General of OAO "WGC-2" is Mikhail Kuzichev.
**The decision to establish OAO "WGC-6" as a wholly-owned subsidiary of RAO "UES of Russia" was taken by the Board of Directors at the Board meeting held 24 December 2004. OAO "WGC-6" was registered with the state authorities on 17 March 2005 in the city of Rostov-na-Donu. The Director General of the Company is Valentin Sanko.
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