State Atomic Energy Corporation Rosatom confirmed the decision to establish Fuel Company on the basis of OJSC TVEL (a 100% affiliate of JSC Atomenergoprom).

The decision was taken within the framework of activities aimed at restructuring nuclear power generation industry in order to enhance its efficiency.

In accordance with the decision the first stage will comprise transmission of OJSC United Company Enrichment Sublimation Complex shares to OJSC TVEL (UC ESC is a 100% “daughter” of JSC Atomenergoprom consolidating 100% shares of enrichment sublimation combines such as Angarsk Electrolytic Chemical Combine, PA Electrochemical Plant, Ural Electrochemical Combine and OJSC Siberian Chemical Combine).

Besides this OJSC TVEL will receive 100% shares of OJSC Engineering Center Russian Gas Centrifuge that unites enterprises of nuclear complex taking part in design and production of major (gas centrifuges) and auxiliary equipment for separation enterprises namely OJSC Vladimir Production Association Tochmash, OJSC Kovrov Mechanical Plant, CJSC DDB-Nizhny Novgorod, CJSC Tsentrotekh- SPb, LLC Novouralsk R&D Center, LLC Novouralsk Instrument Plant, LLC Ural Gas Centrifuge Plant.

The required corporate activities to establish Fuel Company are planned to be fulfilled within 2010.

In accordance with the plan of priority activities to establish Fuel Company OJSC TVEL will elaborate the conception of development for Fuel Company till the end of 2009, and will submit it for approval to Rosatom State Atomic Energy Corporation and JSC Atomenergoprom.

OJSC TVEL will carry out an audit of the main enterprises that will be assigned to it in November-December later this year. With this view on November 9-10 Vladislav Korogodin, Deputy Director of JSC Atomenergoprom, Yuri Olenin, President of OJSC TVEL and Vladimir Fedoseev, Director of OJSC UC ESC paid a visit to OJSC SCC.

The Russian manufacturer of nuclear fuel OJSC TVEL Corporation is one of the renowned world leaders of nuclear industry.

OJSC TVEL is a major holding in JSC Atomenergoprom’s structure. It unites a number of enterprises specializing in reprocessing uranium ore and zirconium concentrates, nuclear fuel fabrication for different types of reactors with a full production cycle of its components.

The Corporation comprises such major plants as OJSC Machine Engineering Plant (Elektrostal, Moscow Region), OJSC Chepetsk Mechanical Plant (Glasov, Udmurt Republic), OJSC Novosibirsk Chemical Concentrates Plant (Novosibirsk), OJSC Moscow Polymetals Plant (Moscow), and other enterprises.

TVEL Corporation fully meets fuel needs of 76 power generating reactors in Russia and in 15 European and Asian Countries. Every 6-th power generating reactor in the world uses the fuel manufactured by TVEL Corporation.

Besides, OJSC TVEL provides nuclear fuel for research reactors in Russia and abroad, as well as for propulsion reactors of the Russian icebreaker fleet and the Navy.

TVEL Corporation’s Enterprises manufacture a broad range of all-purpose products that are delivered to a great deal of countries of the world.

Quality control systems at the main enterprises and managing company are certified in alignment with international standard ISO 9001. Plants of TVEL Corporation have the conformity certificate stating compliance of its environmental management system with international standard ISO 14001.

Cutting edge technologies, innovations, scientific potential, skilled workforce, perfect quality of production and safety ensure success for TVEL Corporation.