Moscow, 24 December 2007. The process has been completed to consolidate the subsidiaries of six thermal WGCs and fourteen TGCs. TGC-10 is the last thermal generation company to have consolidated its assets.

On 20 December 2007, the Federal Service for the Financial Markets of Russia (FSFM) registered the report on the issuance of TGC-10 shares which had been exchanged for the shares in OAO "Kurgan Generation Company" owned by RAO "UES of Russia". OAO "Kurgan Generation Company" merged with and into TGC-10, thus completing the establishment of the intended corporate structure of TGC-10. Previously, on 1 December 2006, TGC-10 consolidated the assets of the Chelyabinskaya and Tyumenskaya GenCos.

It should be mentioned that the six thermal WGCs completed their consolidation on 29 September 2006.

It is also important that the shares of all the spin-off WGCs and TGCs have been floated on the stock markets.

Shares of all WGCs and TGCs, except for TGC-11, have been included in the stock exchanges' Quotation Lists. TGC-11 shares which were admitted to trading on stock exchanges without listing in December 2007 will be included in the Quotation List "B" by end-Q1 2008.

The consolidation of the company's production and financial assets and the measures taken to ensure liquidity of the WGC and TGC shares have helped increase the investment appeal of the thermal TGCs. In 2007 alone, WGCs and TGCs raised over RUB600 billion in funds from private investors for the sector development.