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Inter RAO UES

June 29, 2007

Annual General Meeting of JSC INTER RAO UES shareholders held

Moscow. 29 June 2007. Annual General Meeting of JSC INTER RAO UES shareholders has today approved the annual report and annual financial statements, including profit and loss statement.

At year-end 2006, the pre-tax profit amounted to 2.8 bln roubles and rose by 59% since the previous year. The proceeds from the parent company's activities rose by 32%, exceeding 28.7 bln roubles. The 2006 production costs totaled 21.1 bln roubles. The net profit exceeded 1.7 bln roubles, increasing the previous year figure by 76%.

The General Meeting approved the proposed allocation of the Company's profits and losses based on the performance in the 2006 financial year. The total dividends paid for the reporting period increased by 60 mln roubles, or 16.7%, and reached 420 mln roubles. The dividends paid per share are 36.8421053 roubles.* The dividends will be paid out in cash within 60 days of the resolution being passed.

The shareholders elected a new Board of Directors and Auditing Committee of the Company. The new Board of Directors comprises A.V. Apkaneev, E.V. Dod, L.V. Drachevsky, A.N. Rappoport, V.V. Travin.

“PricewaterhouseCoopers Audit” has been reappointed as JSC INTER RAO UES auditor.

 

*JSC INTER RAO UES completed the procedure of increasing its authorized capital early in 2007. The authorized capital was increased using a part of JSC INTER RAO UES undistributed net profits accumulated over the preceding years. The Company's authorized capital was up 1 bln 80 mln roubles. This was accompanied by the share number increasing from 600,000 to 11,400,000. There has been no change in the shareholders' stakes in the Company.

 

 

 

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