LAIR, Saint Petersburg, has been approved by the Board of Directors of Generation Company Four of the Wholesale Market of Power and Energy (OGK-4) as an independent appraiser to assess the market value of OGK-4 shares. The relevant bidding for the right to enter into the relevant agreement was announced by OGK-4 on January 31, 2007. Under the agreement, LAIR is to complete its work until March 30, 2007.
The market value of one OGK-4 ordinary share will be assessed for purchase purposes. The assessment results will be used for the shareholders to exercise their right to demand that the Company repurchase their shares, which issue regarding entering into a major transaction, the Underwriting Agreement, will be addressed at the General Meeting of Shareholders of OGK-4.