On September 20, 2004, Mosenergo’s board of directors held a regular meeting. In accordance with the decision of the annual general meeting of shareholders the board of directors approved the lists of candidates to the management bodies of the companies that will be set up in the place of Mosenergo.

The board of directors has approved candidates to BoDs, audit commissions and positions of general directors of the following companies: Management Power Company, High-Voltage Grid Company, Moscow Municipal Electric Grid Company, Moscow Municipal Heating Grid Company, Moscow Regional Electric Grid Company, Mosenergosbyt (Sales Company), Specialized Design Bureau for Maintenance and Construction, Mosteplosyetenergoremont, Mosenergosyetstroy, OAO GRES-4, OAO GRES-5, OAO GRES-24, OAO Zagorsk GAES.

The candidates should be approved at general shareholder meetings of the new companies. The dates of these meeting will be approved later by the board of directors of Mosenergo.

The election of management bodies of new successor companies is one of Mosenergo’s restructuring stages.