Moscow. 28 November 2006. The Board of Directors of RAO "UES of Russia" approved by absentee vote the resolution to set up the Investments Commission under the Board of Directors and the Regulation governing the Commission's activities, and appointed Commission members. Mikhail Abyzov, Board Chairman of OOO "RUKOM", was appointed Commission Chairman.

The Commission is intended to improve the efficiency of RAO UES investment policy. To that end, the Commission will review all investment projects of the Parent Company and its subsidiaries and dependent companies before submission for Board approval. The Commission will also monitor implementation of the companies' investment projects.

One of the Commission's functions will be drafting proposals and recommendations to the Board of Directors of RAO "UES of Russia" designed to improve the internal policies and the governmental regulatory framework relating to the investment process in the electricity industry.

The Commission consists of the following members:

No.	Name	Current position and place of work
	Mikhail Abyzov	Chairman of Board of Directors, OOO "RUKOM"
	Alexander Branis	Director, Prosperity Capital
	Maxim Bystrov	Deputy Head of the Federal Agency for Management of Special Economic Zones
	Sergey Dubinin	Member of the Management Board, Financial Director, RAO "UES of Russia"
	Leonid Kazinets	Vice President, Russian Builders' Association; President, BARKLY Investment and Construction Corporation
	Anton Klekovkin	Director of Investment Projects Division, ZAO Interros Holding Company
	Vyacheslav Kravchenko	Director, Department of Structural and Tariff Policy in Natural Monopolies at the Ministry of Industry and Energy of the Russian Federation
	Mikhail Kurbatov	Deputy Head of the Ministry of Economic Development and Trade of the Russian Federation
	Vladimir Lebedinsky	Deputy Head of Appraisal Department, Federal Agency For Federal Property Management of the Russian Federation
	Sergey Mironosetsky	Deputy Director General, OAO "SUEK"
	Daniil Nikitin	Chairman of the Board of Directors, OAO "Power Management Consulting"
	Pavel Pustoshilov	Head of Financial Policy Department, RAO "UES of Russia"
	Yuri Redkin	Head of Energy Unit at the Industry Development Department of the Russian Federation Government
	Yuliya Romanenkova	Director General, ZAO "Russian Trust Company"
	Alexander Rutenberg	Deputy Head of Financial and Economic Directorate, Federal Energy Agency of the Russian Federation
	Sergey Ryzhov	Vice President, ZAO "ESN"
	Sergey Skaterschikov	President, OOO "Indexatlas"
	Eduard Smelov	Senior Vice President Strategy and Development, ZAO "KES"
	Denis Fedorov	Advisor to Director General, OOO "Mezhregiongaz"
	David Herne	Managing Director, Halcyon Advisors

The Board of Directors also approved the list of Commission experts:

No.	Name	Current position and place of work
	Sergey Alexashenko	Chairman, Russian Representative of Merrill Lynch
	T. Gohenour	Managing Director, Shenandoah Oil Consulting
	Sergey Derkach	Financial Director, OAO "VO Technopromexport"
	Vadim Dormidontov	Senior Banker at the EBRD power generation department
	Kari Kautinen	Vice President, Fortum Power and Heat Oy
	Alexander Korneev	Lead Analyst, Utilities Sector, ZAO Citibank
	Denis Matafonov	Head of Analytical Department, Antanta-Capital Investment Capital
	Vladimir Ryskin	First Deputy Chairman of the Management Board, URALSIB Financial Company
	Wolfgang Skribot	Managing Director, Corporate Finance Department, ZAO "Gazprombank"
	Alibek Tnalin	Head of Financial Analysis Department, ZAO "Promregion Holding"
	Alexander Shevchuk	Analytics and Reporting Project Manager, Investors Protection Association

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* At its meeting held 29 September 2006, the Board of Directors approved the establishment of the Investments Commission. The Strategy Committee and the Management Board of RAO "UES of Russia" were assigned the task of drafting documents governing the Commission's activities and nominating candidates to the Commission.