Moscow, 20 October 2003. Non-Profit Partnership "INVEL" has been established on the initiative of RAO "UES of Russia" to provide financing for research and development (R&D) in the electricity industry in the context of the Holding's restructuring and division of financial flows earmarked for such projects. This organization will bring together R&D customers to provide joint financing for research and development efforts, which will enable them to reduce their costs and risks.

According to RAO UES Media Relations Department, NP "INVEL" does not have profit-making as its primary goal.

Today, among the INVEL Partners are RAO "UES of Russia", OAO "UES System Operator – Central Dispatch Authority", 22 regional energos, 14 AO-power plants, and 4 companies that are not part of RAO "UES of Russia" (NPO "Unikhimtek", Taganrog Boiler Plant, NPO "Saturn – Rybinsk Motors", and "Metran" Group of Companies).

NP "INVEL" has been authorized by RAO "UES of Russia" to represent the Holding's interests in developing technical regulations, national standards, institutional standards and certification in the electricity industry.

CONTACTS: TEL.: (095) 710-54-14, FAX: (095) 710-52-65