The Board of Directors of JSC “MOESK” passed the resolution on approval of the Business plan, including the Investment program, for 2011.

Key parameters of the Business plan for 2011
One may mark out the following key parameters of the Business plan for 2011:
- revenues from sales (services) - RUR 133 681 056 thousand
- product cost (services) – RUR 103 784 702 thousand
- gross profit - RUR 29 896 354 thousand
- net profit (loss) – RUR 17 641 686 thousand
- EBITDA – RUR 41 553 676 thousand
- net assets – RUR 179 654 237 thousand

Grid output increase is planned to be at the level of statistical average data - 83 156 mln. kWh, whereby the useful output will amount to 73 908 mln. kWh. Besides, the expected consumption decrease in 2011, due to fulfillment of the power saving programs in areas of Moscow and Moscow region, has been taken into account as well.

Annual percentage losses by the Company for 2011 forecast will be at the level of 11,12%.

Key parameters of the Investment program for 2011
Capex covered by the 2011 investment program amount to RUR 42 036 mln. (without VAT), including RUR 29 392 mln. provided for technical upgrading and reconstruction of active power facilities, RUR 12 644 mln. – for new construction and expansion. The considerable part of the investment program refers to the investments required for technological connection of objects – it is planned to spend RUR 21 385 mln. for implementation of such objects connection.

In 2011 within the frame of technical upgrading and reconstruction of active power facilities it is planned to put into operation 2 551 MVA of transformer capacity and č 613 km of power transmission lines, within the frame of new construction it is planned to put into operation 905 MVA and 562 km, accordingly.

The positive resolutions on the following items were passed during the meeting of the Board of Directors of JSC “MOESK”:

1. On consideration of the Company Director General’s Report on implementing decisions taken at the meetings of the Board of Directors of JSC “Moscow United Electric Grid Company”.

2. On approval of the adjusted Business-plan (as well as the Investment program) of JSC “Moscow United Electric Grid Company” for 2010”

3. On approval of the adjusted targeted key performance indicators (KPI) of JSC “Moscow United Electric Grid Company” for 2010”

4. On approval of the Report on meeting the targeted key performance indicators (KPI) of JSC “Moscow United Electric Grid Company” for the 3^rd quarter of 2010.”

5. On approval of the Report on results on implementation of the Business-plan (as well as the investment program) of JSC “Moscow United Electric Grid Company” for 9 months and the 3^rd quarter of 2010.

6. On consideration of the Report on results of implementation of the Annual complex program of competitive, regulated and non-competitive purchases of JSC “Moscow United Electric Grid Company” for 9 months of 2010.

7. On approval of targeted key performance indicators (KPI) of JSC “Moscow United Electric Grid Company” for 2011.