A meeting of the Board of Directors of OJSC “MOESK”* in joint and in absentia meeting took place today on 14 October 2009 managed by Nikolay Shvets, the  of JSC “IDGC Holding”. The form of the meeting was both joint and absentee.

Due to the agenda of the meeting, priority directions of activities on technological connection to the Moscow city electric grids have been determined, reports on results of the business plan implementation over six months 2009 and on results of implementation of the investment program over sic months 2009 have been approved.

As a result of six months 2009, the Company’s net profit is equal to RUR 4,380,839 thousand (exceeding the level of the last year similar period by more than 1.5 times), ROE equal to 3.86%, EBIDTA equal to RUR 13,991,487 thousand. Implementation of the capital investment program amounted to RUR 6,495 million. Under implementation of the investment program, about 190 MVA transformer capacity and 390 km of electric energy transmission lines of different capacities have been introduced.

Moreover, the Board of Directors has approved the 2009 program for non-state pension provision for employees of OJSC “MOESK”.

*The Board of Directors of OJSC “MOESK” includes representatives of JSC “IDGC Holding”, OJSC “MOESK”, OJSC “Gazprombank”, “Lider” CJSC, JSC “FSC UES”, JSC “SO UES”, the Ministry of Energy of the Russian Federation, The Moscow Administration and the Ministry for Property Relations under the Moscow Region Administration.