Net assets exceeded the amount of the authorized capital 2.9 fold.

The value of the net assets of IDGC of North-West during the period from September 30, 2008 to September 30, 2009 grew by RUR 800,931,054 and accounted for RUR 27,998,141,054 which exceeds the amount of the authorized capital by RUR 18,419,548,740 and proves the high level of protection of the creditors’ interests. The quarterly report of “Interregional Distribution Grid Company of North-West”, Joint Stock Company contains such data.

The indices of relation of the amount of the attracted means to the capital and reserves and relation of the amount of the short term liabilities to the capital and reserves of IDGC of North-West account for as of September 30, 2009 34.1% and 16.1% correspondently. Their meanings are within the limits and prove the increase of the long term liabilities over the short term ones in the structure of the balance sheet of the Company. The share of the correspondent capital accounts for 77% in the liabilities of IDGC of North-West, and correspondently increases the normative meaning (50-60%).

The decrease of the amount of the short term liabilities to the capital and reserves from 21.03% as of September 30, 2008 down to 16.1% as of September 30, 2009 is explained by the refinancing of the loan debt from the short term to the long term one. “The considerable part of the own capital in the balance characterizes the stable financial state of IDGC of North-West, and correspondently, the decrease of risk of bankruptcy and decrease of the risks for the creditors,” is said in the report.