Moscow, 15 September 2006. The consolidation of OAO "TGC-4" and its subsidiaries has finally been completed.

OAO "TGC-4" has received Certificates from the Tambov City Inspectorate of the Federal Tax Service of Russia evidencing entry of records in the Unified State Register of Legal Entities regarding the termination of eleven regional generation companies (RGCs) – OAO "Bryansk Generation Company", OAO "Voronezh Generation Company", OAO "Kaluga Generation Company", OAO "Kursk Generation Company", OAO "Lipetsk Generation Company", OAO "Oryol Generation Company", OAO "Priokskaya Territorial Generation Company", OAO "Ryazan Heat Supply Company", OAO "Smolensk Generation Company", OAO "Tambov Generation Company", and OAO "Heat Energy Company" – as legal persons.

Thus, the above regional generation companies (RGCs) have completed their merger with and into OAO "TGC-4". Up to now, OAO "TGC-4" has been operating as a management company. In February, April, and July 2006, the RGCs' shareholder meetings (with the support of minority shareholders) and the joint shareholder meeting of OAO "TGC-4" and the RGCs held on 25 August 2006 approved the merger of the above RGCs with OAO "TGC-4".

Today, the shares in the merged RGCs were converted into TGC-4 shares, and all shareholders in the respective RGCs became shareholders in OAO "TGC-4". For the purpose of conversion, TGC-4 issued 1,321,630,000,000 additional ordinary shares and 75,290,000,000 preferred shares, RUB0.01 par value per share, worth a total of RUB13,969,200,000.

After the mergers, the stake held by RAO "UES of Russia", the only founder of OAO "TGC-4", decreased to 47.31%, or 50.01% of the company's voting shares. TGC-4 shares are expected to start trading on RTS and MICEX Stock Exchange in October 2006.

The consolidation of the company's production and financial assets will boost the investment attractiveness of OAO "TGC-4". TGC-4, which has eleven production branches, now submits price offers to NP "Administrator of Trading System" (NP "ATS") as an independent participant of the free market segment.

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