On April 1st, 2010 the meeting of the Board of Directors of OJSC “Moscow United Electric Grid Company” chaired by Director General, Nikolay Shvets, was held in presentia and absentia form. The issue “On approval of the Company’s business plan (as well as investment program) for 2010” was considered by the Board of Directors at the meeting.

By the meeting results it was decided to approve the Business plan and investment program of “Moscow United Electric Grid Company” for 2010.

The Business plan of OJSC “Moscow United Electric Grid Company” for 2010 was made on the basis of the approved tariffs for electric power transmission services through the grids with differentiation by the voltage levels. In accordance with the proposed plan it is expected to increase profits this year by means of additional income acquisition from other unregulated activity as well as of the personnel’s operating efficiency increase.

As per the proposed business plan commercial (marketable) product will amount to RUR 105 361 991 thousand. It is expected that net profit of the Company will be equal to RUR 7 160 599 thousand and it is by RUR 842 091 thousand higher than the volume of 2009. Target value of the key performance indicator “Return on equity” (ROE) – 5,98% (2009 – 5,57%) has been determined.

Costs and process losses when transmitting power through the Company’s electric grids are expected to be reduced. The planned level of losses in the grids will amount to 11,22% in 2010. Productive supply (input to grid) is 71 834 million kWh, 37 097 of which will be delivered to power consumers of Moscow and 34 737 million kWh – to consumers of Moscow Region.

Proceeds from the activity related to technological connection will amount to RUR 17 446 million , and it is by RUR 7 977 million higher as against 2009.

In 2010 the Company will implement the investment program in the volume of RUR 22 111 393 thousand (2009 – RUR 21 696 175 thousand.), including RUR 13 647 066 thousand, or 63% of the investment program volume for re-equipment and reconstruction of power facilities in service, and RUR 8 464 327 thousand., or 37% - for new construction and expansion.

It is hoped that in 2010 net assets value of OJSC “Moscow United Electric Grid Company” will amount to RUR 130 320 024 thousand.