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Unified Energy System

May 20, 2005

Share issue of OAO "TGC-1" registered with the FSFM of Russia

Moscow, 20 May 2005. On 17 May 2005, the North-West Regional Division of the Federal Service for the Financial Markets of Russia registered the issue of ordinary shares of OAO "Territorial Generation Company No. 1" (OAO "TGC-1"). Simultaneously, the regulator registered the resolution on the share issuance and the share placement report.

According the resolution on the share issuance and share placement report, OAO "TGC-1" placed 1 billion ordinary shares, par value RUB0.0100. The state registration number assigned to the share issue is 1-01-03388-D.

OAO "TGC-1" was registered on 25 March 2005 by the Interdistrict Inspectorate of the Federal Tax Service of Russia for the city of St.-Petersburg. The Director General of OAO "TGC-1" is Andrey Likhachev, currently Director General of OAO "Lenenergo".

The co-founding of an operating company, OAO "TGC-1", by OAO "Kolenergo", OAO "Lenenergo", and OAO "Karelenergogeneratsiya", using lease arrangements was approved by the Board of Directors of RAO "UES of Russia" on 26 November 2004.

According to the preliminary schedule, TGC-1 will start working as an operating company on 1 July 2005. The establishment of TGC-1 will be completed in the fourth quarter of 2006 after the three Regional Generation Companies (RGCs) merge with and into TGC-1.

 

 

 

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