Bishkek, June 26, 2007. The deadline for the tender for the right to enter an agreement on implementation of works on development of investment substantiation (pre-feasibility study) for the project of construction of Kambaratinsk HPP-1 and HPP-2 in the Republic of Kyrgyzstan was postponed until July 20, 2007. Such decision was made pursuant to the request of the tender participants at the meeting of the Tender Committee which was held in the capital of the Republic of Kyrgyzstan - Bishkek.

The Committee’s meeting also approved the decision making procedure and methodology guidelines for the assessment of tender offers.

On the previous day before the meeting the tender participants, with the help of OJSC Elektricheskiye Stantsii (Republic of Kyrgyzstan), were given the opportunity to visit the under construction Kambaratinsk HPP-2, where they met specialists and had a look at the current design estimates.

The tender for the right to develop the pre-feasibility study was announced late in May by JSC INTER RAO UES which in this project represents the entire holding RAO UES of Russia, and performs the functions of the tender organizer.

Earlier, in spring 2007, Russia, Kazakhstan and Kyrgyzstan made decisions at the intergovernmental level according to which JSC INTER RAO UES, OJSC Elektricheskiye Stantsii and JSC KazKuat (Republic of Kazakhstan) were authorized to ensure the organization of the pre- feasibility study development.

The winner of the tender will be the participant that will be able to propose the best terms subject to the criteria specified in the tender documentation. It will have to implement works on the development of investment substantiation for the project on the completion of the construction of both HPPs. The works are scheduled to begin in the III quarter of 2007.

Tender applications are to be sent to the following address: Office No. 33, 16 Floor, Entrance 7, Krasnopresnenskaya Naberezhnaya 2, Moscow, Russian Federation, 123610.

According to the project, Kambaratinsk HPP-1 located in Karabash cross-section on the Naryn River will be the largest among all the Kambaratinsk HPP complex. The planned capacity of the station is 1,900 ÌW; the expected annual power output is 5.1 billion kWh.

Kambaratinsk HPP -2 is one of the steps in the hydroelectric power plants cascade in the mid-channel of the Naryn River. The installed capacity of the station is 240-360 ÌW depending on the number and the capacity of the installed units. The expected annual power output is 1,050-1,148 million kWh.

The construction of Kambaratinsk HPPs began in 1986. By now about 30% of the entire volume of construction and assembly works have been completed at Kambaratinsk HPP-2.