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Unified Energy System

April 23, 2005

Mikhail Abyzov to leave RAO "UES of Russia"

Moscow, 23 April 2005. Mikhail Abyzov, member of the Management Board and Managing Director of Business Unit 1 at RAO "UES of Russia" announced today that he is going to leave the Company as from June this year. This matter will be submitted for consideration by the Board of Directors of RAO "UES of Russia".

Anatoly Chubais, Chairman of the Management Board of RAO "UES of Russia", said that Mikhail Abyzov had made a significant contribution to the Company transformation from a Soviet-style semi-ministry into a modern business entity that RAO "UES of Russia" is today. Anatoly Chubais praised Mr. Abyzov's managerial talent in dealing with the key challenges of Russia's energy industry, such as eliminating the consumer non-payments system, normalizing the fuel supply at the Holding Company's enterprises in 1999-2001, turnaround management at the ailing energy companies in the Far East of Russia. The Chairman of the Management Board of RAO "UES of Russia" acknowledged the great contribution made by Mr. Abyzov to the development of a new divisional organization structure of RAO "UES of Russia", creating a highly efficient management team at Business Unit 1, which managed to achieve in 2004 a radical improvement in financial performance at the subsidiaries and dependent companies in their charge.

The Chairman of the Management Board of RAO "UES of Russia" issued an order to award Mikhail Abyzov a Sign of Honour For the Services to the Russian Energy Industry.

 

 

 

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