On November 28 OJSC TGC-2 Board of Directors took decision to place interest-bearing inconvertible bonds at the amount of 4,000,000 with face value of RUB 1000 each and total face value RUB 4,000,000,000. Bonds will be placed via public offering with price that constitutes 100 per cent of the Bonds face value - RUB 1,000 per Bond.

TGC-2 Board of Directors affirmed OJSC JSCB ROSBANK as a managing bank.
ROSBANK won the open single-stage competition for the right to arrange OJSC TGC-2 Bond issue. Attracted funds will go to the realization of TGC-2 investment projects.

The size of TGC-2 investment program till 2011 that was affirmed by OJSC TGC-2 Board of Directors on May 2007 is estimated at RUB 38.9 bln. RUB 9 bln out of those funds are intended to be raised via additional share issue which is to be conducted by March 20, 2008.

Company Profile
OJSC Territorial Generating Company #2 (PJSC TGC-2) was established in February 2005. The Company Director General is Andrey Vagner. TGC-2 comprises generating capacity of 6 regions - Arkhangelsk, Vologda, Kostroma, Novgorod, Tver and Yaroslavl.
Since July 1, 2006 TGC-2 functions as a unified Company. TGC-2 operates 16 heat power stations, 8 boiler plants, 4 enterprises of heat networks. The total electric capacity of TGC-2 enterprises is 2, 582.5 MW, the installed heat capacity constitutes 12,471 Gcal/h.
PJSC TGC-2 owners equity amounts to 11, 124, 968, 918 rub 18 kopecs and is spread over 1, 095, 996, 358, 137 ordinary shares and 16, 500, 533, 681 preferred shares with the face value of 1 kopec per share. The main shareholder of the Company is RAO UES of Russia, which owns 49.36% of shares.