The consolidated reporting under IFRS will be drawn up following the results of 2008.

The financial statements of IDGC of the North-West, JSC for the 1st half of the year 2008 were drawn up.

This is the first financial statements of the Company containing consolidated indicators after reorganization of IDGC of the North-West, JSC in the form of consolidation on 1 April 2008 of JSC Arkhenergo, JSC Vologdaenergo, JSC Karelenergo, JSC Komienergo, JSC Kolenergo, JSC Novgorodenergo, and JSC Pskovenergo with the Company.

The net profit for 6 months of 2008 equaled 201.5 million rubles before taxes, and 132.9 million rubles - after taxes.

Balance sheet assets on 31.06.2008 equaled 34,079.8 million rubles.

Net assets of the Company on 31.06.2008 were 27,556.6 million rubles.

In order to move to the international financial markets and provide expansion of a circle of potential investors, maintenance of transition to the system of the tariff regulation based on regulated asset base (RAB), and also improvement of the management system, the Company took the decision to draw up the consolidated financial statements of IDGC of the North-West under the International Financial Reporting Standards for 2008 with the comparative parameters for the year 2007.