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Moscow, 16 May 2006. OAO "WGC-2",* OAO "Pskovskaya TPP", OAO "Stavropolskaya TPP", OAO "Surgutskaya TPP-1", OAO "Troitskaya TPP", and OAO "Serovskaya TPP" held a joint general meeting of shareholders.
The Joint Meeting approved amendments to the Charter of OAO "WGC-2" relating to the company's reorganization through merger of the above power plants with and into OAO "WGC-2". These amendments provide, inter alia, that OAO "WGC-2" will become a legal successor to the rights and obligations of the merging power plants with respect to their creditors and debtors with effect from the date of the power plants' merger with and into OAO "WGC-2".
OAO "WGC-2" is expected to complete its reorganization and achieve its target structure in Q4 2006.
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* The Board of Directors of RAO "UES of Russia" decided to establish OAO "WGC-2" at the Board meeting held 24 December 2004. The state registration of OAO "WGC-2" was effected by Inspectorate No. 2607 of the Federal Tax Service of Russia for the Izobilnensky District, Stavropol Kray on 9 March 2005. The Director General of OAO "WGC-2" is Mikhail Kuzichev.
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