Moscow. 14 June 2006. On 13 June 2006, the Federal Service for Financial Markets of Russia (FSFM) registered the report on placement of additional ordinary shares in OAO "TGC-6"*.

The additional shares in OAO "TGC-6" were exchanged for shares in the regional generation companies (RGCs) comprising TGC-6 (OAO "Mordovia Generation Company", OAO "Vladimir Generation Company", OAO "Nizhny Novgorod Generation Company", OAO "Ivanovo Generation Company", "Penza Generation Company") and OAO "Mordovia Heat Network Company".

According to the resolution authorizing the share issue, OAO "TGC-6" placed 1,046,322,314,930 shares of RUB0.01 par value worth a total of RUB10,463,233,149.30. The state registration number assigned to the share issue is 1-01-55091-?-001D.

The exchange of additional shares in OAO "TGC-6" for shares in the RGCs relating to TGC-6 and shares in OAO "Mordovia Heat Network Company" was completed on 5 May 2006, thus finalizing the consolidation of TGC-6.

As a result of the share exchange, OAO "TGC-6" acquired a 84.2% stake in OAO "Mordovia Generation Company", a 84.21% stake in OAO "Mordovia Heat Network Company", a 93.99% stake in OAO "Vladimir Generation Company", a 66.91% stake in OAO "Nizhny Novgorod Generation Company", a 85.05% stake in OAO "Ivanovo Generation Company", and a 93.55% stake in OAO "Penza Generation Company".

After the report on placement of the additional shares was registered with the FSFM, the authorized capital of OAO "TGC-6" increased to RUB10.473 billion from RUB10 million. RAO "UES of Russia" now holds 61.85% in OAO "TGC-6", with the large minority shareholders controlling 33.42%, and other shareholders collectively owning a 4.73% interest in TGC-6.

TGC-6 shares are expected to be floated on the stock market in Q3 2006.

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* OAO "TGC-6" was registered with the Inspectorate of the Federal Tax Service of Russia for Kanavinsky District, the city of Nizhny Novgorod, on 27 April 2005. OAO "TGC-6" is headed by Director General Vladimir Privalov.