Moscow, June 27, 2008. The General meeting of shareholders of OJSC INTER RAO UES which took place on June 25, 2008 in Moscow reviews the issue of the annual reporting approval including the issue of the profit and loss statement approval. Evgeny Dod, Chairman of the Management Board of OJSC INTER RAO UES presented the report to the shareholder.

The General meeting approved the 2007 annual report and the 2007 annual accounting reporting and discussed the profit distribution (indulging the dividend payout) based on the fiscal 2007 results of the Company.

Reference:

Since OJSC INTER RAO UES was established as a result of reorganization of OJSC North Western TEC, OJSC Ivanovskiye PGU and CJSC INTER RAO UES in the form of merging into OJSC INTER RAO UES (prior to its renaming – OJSC Sochi TES), the 2007 report of OJSC Sochi was presented to the actual shareholders. Effective May 1, 2008 as a result of the merger the said companies acquired the status of branches of OJSC INTER RAO UES and ceased their existence as independent joint stock companies. The issue of distribution of profits only referred to the last year results of OJSC Sochi TES.

Retained earnings (loss) in the Company’s reporting year were RUB 2,467 thousand. In the discussion of the issue of ‘Distribution of profit (including the dividend payout) and loss of the Company based on the 2007 results’ the General meeting resolved to not distribute the 2007 profit and withhold dividend payout based on the 2007 results.

The General meeting elected the new Board of Directors of OJSC INTER RAO UES. 11 members of the Board were elected:

- Dmitry S. Akhanov, Head of the Federal Energy Agency (Rosenergo);

- Alexander S. Voloshin, Chairman of the Board of Directors of OJSC RAO UES of Russia;

- Andrey V. Dementiev, Deputy RF Minister of Industry and Energy;

- Vladimir A. Dmitriev, Chairman of the State-owned Corporation Bank of Development and Foreign Economic Activities (Vneshekonombank);

- Evgeny V. Dod, Chairman of the Management Board of OJSC INTER RAO UES;

- Sergey V. Kirienko, General Director of the State-owned Nuclear Energy Corporation Rosatom,

- Andrey N. Klepach, Deputy RF Minister of Economic Development and Trade;

- Andrey N. Rappoport, Member of the Management Board, Managing Director of OJSC RAO UES of Russia (Business Unit Networks);

- Vladimir V. Travin, General Director of OJSC Atomenergoprom;

- Victor B. Khristenko, the RF Minister of Industry and Energy;

- Andrey V. Sharonov, Managing Director of Troika Dialog Group.

The Auditing Committee elected by the General meeting includes the following members:

- Anatoly V. Baitov, Head of the Department for Financial Control and Internal Audit of OJSC FSK UES;

- Tatiana M. Gorchakova, Head of the Department of Audit and Internal Control of FGUP Concern Rosenergoatom;

- Marina A. Lelekova, Deputy Head of the Department of Financial Control and Internal Audit of OJSC FSK;

- Irina V. Mikhno, Deputy Head of the Department of Internal Audit – Head of the Department of KC OJSC RAO UES of Russia;

- Elena G. Ryzhkova, Chief Expert of the Department of Financial Control and Internal Audit of OJSC INTER RAO UES.

The shareholders also approved the new edition of the Articles of Association of the Company.

The General meeting approved the Auditor of OJSC INTER RAO UES. Closed Joint Stock Company ENPI Consult became the Auditor.