The Board of Directors of Fourth Generation Company of the Wholesale Electricity Market (OGK-4) has approved a contract between the Company, Financial Settling Center and Administrator of Trading System to supply capacity to the wholesale market, which contract is a material transaction.
Under the contract, OGK-4 undertakes to supply to the wholesale market the capacity produced by its generation equipment, and Financial Settling Center agrees to pay for the capacity. The contract makes OGK-4 bound to supply new capacity to the wholesale market in the amount and within the periods specified in the approved investment program of the Company. The placement of the declared issue of OGK-4 additional shares is subject to the conclusion of this contract.
The approval of the material terms and conditions of the contract entered into by the Company, Financial Settling Center and Administrator of Trading System to supply capacity to the wholesale market, was submitted of the OGK-4 extraordinary general meeting of shareholders scheduled for October 5, 2007.