Moscow, 15 December 2004. RAO "UES of Russia" has been named the winner of the eighth All-Russian "Best Russian Enterprises" Awards in the category "For Economic Openness". Besides, RAO "UES of Russia" has been named a laureate in the category "Best Corporate Issuer on the Russian Stock Market".

The "Best Russian Enterprises" Awards are given annually by the Russian Union of Industrialists and Entrepreneurs (RUIE) and the Chamber of Commerce and Industry of the Russian Federation with the support of the Russian Government. Nominees for the Awards are selected using the method worked out by the RUIE's Institute of Experts.

The principal goal of the Awards is to identify Russian enterprises with the best economic and financial performance in order to attract the potential investors' interest to them.

The main principle of the "Best Russian Enterprises" Awards is maximum transparency and availability of first-hand information on the enterprises nominated for the Awards.

The Awards winners are selected based on the financial and economic figures calculated using the companies' financial statements filed with the Federal State Statistics Service.

Winners are determined by an awards jury consisting of government officials, businesspeople and academics.

A new category of the Awards—"For High Social Effectiveness"— has been introduced this year. RAO UES subsidiary, OAO "Yarenergo", has been announced the winner in this category.