Moscow. 1 June 2004. The general meetings of shareholders were held on 28 to 31 May 2004 at six regional energos. The shareholders approved the resolution to reorganize the respective energy companies within the framework of the reform of RAO "UES of Russia". Shareholders of OAO "Ivenergo", OAO "Tambovenergo", OAO "Kostromaenergo", OAO "Yarenergo", OAO "Tverenergo", and OAO "Vladimirenergo" have approved the plans to separate their companies by lines of business, with the current ownership structure preserved.

Under the Russian laws, a decision to reorganize a company requires approval by at least 75% of shareholders. In all six regional energos, the resolutions were approved by over 75% vote. Large minority shareholders also voted FOR the reorganization.

To date, 17 regional energos of RAO UES Holding have passed resolutions on the companies' reorganization.