Today, theGlobalDepositaryReceipts(GDRs) ofJSC RusHydro − the biggest Russian generating company and the world’s biggest public hydrogenerating company in terms of installed capacity (25.3 GW) − began trading on the regulated sector of the International Open Book (IOB) of the London Stock Exchange (LSE).  JSC RusHydro ticker on theLSEis HYDR.

InJune2008, JSC RusHydro created aGDR programme (according to Regulation S and Rule144À).  Depositary bank– TheBankofNewYorkMellon.  EachGDR certifies the right to 100 ordinary shares in JSC RusHydro.  Since the GDR programme’s inception, the number of GDRsissued has risen from2.13% to 6.17% of the authorised equity capital of JSC RusHydro.

JSC RusHydro received permission from the Federal Service for the Financial Markets of Russia to trade 37 500 000 000 of its shares (14.7% of its authorised equity capital) in the form of depositary receipts outside the Russian Federation.

Commenting on the opening of trading in theJSC RusHydroGDRs on the London Stock Exchange, Acting Chairman of the Management Board V.A. Zubakin noted: “The decision to obtain a listing on the London Stock Exchange reflects our wish to make use of the considerable liquidity resources by simplifying access for international investors to the company’s securities.  This action will increase considerably the liquidity of our depositary receipts.  WealsobelievethatthedepositaryreceiptlistingontheLondonStock Exchange will tangibly promote JSC RusHydro not only as a Russian but also an internal Blue Chip company among the companies on developing markets”.

JSC RusHydroshares have been included on the “A1” quotation lists of the MICEX and RTS and are traded on these exchanges under the ticker HYDR. 

JSC RusHydro also plans to establish a programme of first tier American Depositary Receipts(ADRs) that, given the relevant permits from the regulatory authorities, should be launched in August 2009.  Thedepositaryofthegiven programme will beTheBankofNewYorkMellon.   The first tier ADRs will be traded on the Main Market of the London Stock Exchange. 

ThemajorityblockofsharesinJSC RusHydro(61.93%) belongs to the Russian Federation, with the proportion ofJSC RusHydro shares in free circulation being over 30%.  ThemarketcapitalisationofJSC RusHydro as of3 July,2009 amounted to315 billion roubles(or10.12 billion US dollars).