Moscow. 24 November 2004. OAO "Third Generation Company of the Wholesale Electricity Market: ("OAO "WGC-3") has been registered with the Interdistrict Inspectorate of the Ministry of Taxes and Levies of Russia for the Republic of Buryatia.

A decision to establish OAO "WGC-3" as a wholly owned subsidiary of OAO RAO "UES of Russia" was taken by the Board of Directors of RAO "UES of Russia" on 1 October 2004.

Pursuant to the resolution of OAO RAO "UES of Russia" on the establishment of OAO "WGC-3", Maxim Kuznetsov (previously CEO of OAO "Volgogradenergo") has been appointed Director General of OAO "WGC-3".

The following persons have been elected to the Board of Directors of OAO "WGC-3": member of the Board of Directors of RAO "UES of Russia" Vasily Zubakin; Deputy Managing Director, Executive Director of Business Unit 1 of OAO "RAO "UES of Russia" Daniil Nikitin; Chief of the Corporate Management Department of the Corporate Center of OAO RAO "UES of Russia" Andrey Gabov; Deputy Managing Director, Executive Director of Business Unit 1 of OAO RAO "UES of Russia" Ilyas Zagretdinov; Deputy Managing Director, Executive Director of Business Unit 1 of OAO RAO "UES of Russia" Vladimir Kimerin; Deputy Managing Director, Executive Director of Business Unit 1 of OAO RAO "UES of Russia" Alexander Negomedzyanov; Deputy Managing Director, Executive Director of Business Unit 1 of OAO RAO "UES of Russia" Ilya Gorev; Director General of OAO "WGC-3" Maxim Kuznetsov; Corporate Research Director of Hermitage Capital Management Ltd. Vadim Kleyner; Chief Analyst of Directorate for Energy Industry of OOO Evrazholding Sergey Arinin; Director of Investment Projects of ZAO Interros Holding Company Anton Klekovkin.

Pursuant to Order of the Government of the Russian Federation No. 1254-r of 1 September 2003, the following companies were included in OAO "WGC-3": OAO "Kostromskaya TPP", OAO "Pechorskaya TPP", OAO "Gusinoozerskaya TPP", OAO "Kharanorskaya TPP", OAO "Cherepetskaya TPP", and OAO "Yuzhnouralskaya TPP".

The charter capital of OAO "WGC-3" is RUB 16,629,846,629 and is divided into 16,629,846,629 ordinary shares of RUB1 par value.