Moscow, 18 February 2008. JSC INTER RAO UES and ARENA commodities exchange have signed an agreement granting JSC INTER RAO UES the powers of a market maker. Under the agreement, JSC INTER RAO UES shall daily submit bids during the trading sessions at the said exchange and maintain within the trading system two-way quotations under electricity supply contracts traded there.

The activities of JSC INTER RAO UES as an ARENA market maker will make it possible to improve the liquidity of contracts listed on the exchange.

ARENA is a commodities exchange of the power industry, which enables the wholesale power and capacity market players to promptly make free contracts for the supply of electric power, which are one of the main tools for hedging price risks in the wholesale power and capacity market.

The bidders are offered a wide range of contracts classified in terms of delivery time, choice of day of the week, hour of the day, etc. The need of electric power wholesale market participants for an exchange is dictated by the gradual reduction of the share of supply under regulated contracts and the necessity to hedge against price fluctuations in the market, as well as to make deals for purchase and sale of capacity under free contracts.