April 29, 2008 – Information on the stages of the securities issue procedure: on securities issue decision taking

1. General information

1.1. Full company name of the issuer (for non-commercial organization - name) is Open Joint-Stock Company “Moscow United Electric Grid Company” 

1.2 Short name of the issuer is OJSC “Moscow United Electric Grid Company”; OJSC “MOESK”.

1.3. The location of the issuer 142100, Russian Federation, Moscow Region , the city of Podolsk, 27 Ordzhonikidze street.

1.4. Primary state registration number of the issuer is 1057746555811.

1.5. Tax payer number of the issuer is 5036065113.

1.6. Unique code of the issuer assigned by the registration body is 65116-D.

1.7 Internet page address used by the issuer for information disclosure https://www.moesk.ru.

2. Announcement contents

2.1. Body of the issuer’s management which took the decision on the securities placement and the order of the decision taking (the type of the general meeting shall be indicated (annual or extraordinary) in case the body of the issuer’s management which took the decision on securities placement is the general meeting of participants (shareholders) of the issuer and also the form of voting (compresence and/or external meeting)):

Extraordinary general meeting, absentee ballot

2.2. Date and place of the session (meeting) of the authorized body if the issuer’s management carrying out where the decision was taken on the securities placement: April 18, 2008

Moscow, 1/64 Dobrovolcheskaya street.

2.3. Date of compiling and number of minutes of the session (meeting) of the authorized body of the issuer where the decision was taken on the securities placement: April 28, 2008, Minutes No.6.

2.4 Quorum on the question on the decision taking on securities placement and the results of voting:

Amount of votes the persons possessed included into the list of persons possessing the right to take part in the general meeting and not interested in the transaction making: 28,249,359,700 (100%)

Amount of votes the persons possessed taking the part in the general meeting of shareholders concerning the given question: 24,682,229,708 (87.37%)

The quorum is present.

Voting results on securities placement decision taking:

Amount of votes cast for all of the voting variants (“for”, “against”, “abstained”):

“For”

Amount of voting shares, pieces: 24,585,818,227

% of the amount of voting shares considered during the given issue decision taking: 99.6094

“Against”

Amount of voting shares, pieces: 22,505,051

% of the amount of voting shares considered during the given issue decision taking: 0.0912

“Abstained”

Amount of voting shares, pieces: 2,921,410

% of the amount of voting shares considered during the given issue decision taking: 0.0118

Amount of votes that were not counted due to fact that the bulletins were considered void: 70,985,020

2.5. Complete wording of the securities placement decision:

1) To increase the authorized capital of OJSC “MOESK” by means of the additional registered shares placement in the amount of  20,461,450,000 (twenty billion four hundred and sixty one million for hundred and fifty thousand) pieces of ordinary registered shares of nominal value of RUR 0.5 each of the general amount of the nominal value of RUR 10,230,725,000 (Ten billion two hundred and thirty million seven hundred and twenty five thousand);

2) The way of the securities’ placement – conversion of ordinary registered uncertified securities of OJSC “MGEsK” into additional ordinary registered uncertified shares of OJSC “MOESK” during the process of merging and in the order and on conditions stipulated by the Agreement on OJSC “MGEsK” and OJSC “MOESK” merging;

3) Shares conversion coefficients:

1 (One) additional ordinary registered share of OJSC “MOESK” of nominal value RUR 0.5 converts into 1,966 / 1,424 of ordinary registered share of  OJSC “MGEsK” of nominal value RUR 0.2.

If during the account of the amount of shares of OJSC “MOESK” which shall be acquired by OJSC “MGEsK” due to conversion a shareholder will possess the fractional number, the fractional part of such an amount of shares shall be rounded up considering the following rules:

- if the mark following the comma is within the limit of 5 and 9, the whole figure shall be added one, and the figures following the comma shall not be taken into consideration;

-  if the mark following the comma is within the limit of 0 and 4, only the whole figure shall be taken into account and the figures following the comma shall not be taken into consideration;

- if as a result of rounding-up the shareholder is to owe none of the shares, such a shareholder will get one ordinary share of OJSC “MOESK”.

2.6. The fact of giving to shareholders (participants) of the issuer and/or other persons the exceptional right of the securities acquisition:

Ordinary registered shares declared by the Company to placement give their owners the rights stipulated by paragraph 6.2 of article 6 of the Company’s Articles of association.

2.7. In case the registration of the securities prospectus is carried out at the discretion of the issuer, - the fact of the issuer’s taking the responsibility to disclose information after each stage of the securities issue procedure:

The issuer takes obligations to disclose information in the order determined by the legislation of the Russian federation. 

3. Signature

3.1 Director of the department of corporate policy and property management acting on the basis of the letter of authority No.520-D (¹520-Ä) as of October 1, 2007.

I.A. Kopanov

(signature)

3.2 Date: April  28, 2008. Stamp here.