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Unified Energy System

December 27, 2006

Additional share issue of OAO "WGC-3" registered with FSFM of Russia

Moscow, 27 December 2006. On 26 December 2006, the Federal Service for Financial Markets (FSFM) of Russia registered the issue and prospectus of uncertificated registered ordinary shares of OAO "WGC-3".

The company will offer to the public 18,000,000,000 ordinary shares, par value RUB 1 each. The Board of Directors of OAO "WGC-3" will determine the offering price (including the price at which the shares will be offered to the persons entitled to the pre-emptive right to acquire additional shares) after the expiration of the pre-emptive right of WGC-3 shareholders to acquire such additional shares.

The offering proceeds will be used to finance capacity expansion projects at the Cherepetskaya TPP, Kharanorskaya TPP, Yuzhnouralskaya TPP, and Kostromskaya TPP.

OAO "WGC-3" was registered with the authorities on 23 November 2004 in the city of Ulan-Ude, Republic of Buryatia. The installed capacity of the power plants owned by OAO "WGC-3" is 8,497 MW. The Company is headed by Director General Maxim Kuznetsov. In February 2006, WGC-3 shares were admitted to trading on the MICEX and RTS Stock Exchanges. in July 2006, the company's shares were included in the MICEX Quotation List "B". Today, about 40 percent of WGC-3 shares are free float, and 59.7 percent is owned by RAO "UES of Russia". As a result of the share offering, the stake of RAO "UES of Russia" in WGC-3 will decline to 37.08 percent.

 

 

 

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