Moscow, May 7, 2008. The first meeting of the Board of Directors of OJSC INTER RAO UES took place on April 23, 2008. The meeting, which was held by absentee vote (by poll), involved all eleven members of the Company's Board of Directors.

The meeting participants elected V.B. Khristenko, the Minister of Industry and Energy of the Russian Federation, to Chairman of the Board of Directors of OJSC INTER RAO UES. A.N. Rappoport, Board Member and Managing Director of RAO UES of Russia (Grid Business Unit), was elected Deputy Chairman.

The meeting also approved the Regulation on the Audit Committee of the OJSC INTER RAO UES Board of Directors, Regulation on the HR and Compensation Committee of the OJSC INTER RAO UES Board of Directors, Regulation on the Strategy and Investment Committee of the OJSC INTER RAO UES Board of Directors, Regulation on the Information Policy of OJSC INTER RAO UES, Regulation on Insider Information of OJSC INTER RAO UES, and Corporate Governance Code of OJSC INTER RAO UES.

The new Board of Directors of OJSC INTER RAO UES was elected at the meeting of the Management Board of RAO UES of Russia, which acted as the general meeting of shareholders of Sochinskaya TES (renamed as OJSC INTER RAO UES) on March 28, 2008. The Board of Directors of OJSC INTER RAO UES comprises:

- Dmitry Sergeevich Akhanov – Head of the Federal Energy Agency (Rosenergo);

- Alexander Stalievich Voloshin – Chairman of the Board of Directors of RAO UES of Russia;

- Andrei Vladimirovich Dementiev – Deputy Minister of Industry and Energy of the Russian Federation;

- Vladimir Aleksandrovich Dmitriev – Chairman of the State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)”;

- Evgeniy Vyacheslavovich Dod – Director General of JSC INTER RAO UES;

- Sergey Vladilenovich Kiriyenko – Director General of the State Nuclear Power Corporation Rosatom;

- Andrei Nikolaevich Klepach – Deputy Minister of Economic Development and Trade of the Russian Federation;

- Andrei Natanovich Rappoport – Member of the Management Board, Managing Director of RAO UES of Russia (Grid Business Unit);

- Vladimir Valentinovich Travin – Director General of Atomenergoprom;

- Viktor Borisovich Khristenko – Minister of Industry and Energy of the Russian Federation;

- Andrei Vladimirovich Sharonov– Managing Director of Troika Dialog Group.