FFMS REGISTERS ADDITIONAL ISSUE OF OGK-4 SHARES

Not for release, publication or distribution in the United States, Australia, Canada or Japan

The Federal Financial Markets Service (FFMS) approved the decision on the state registration of additionally issued uncertificated registered ordinary shares in Generation Company Four of the Wholesale Power Market (OGK-4) to be placed through a public offering. The state registration number of the additional issue is 1-02-65104-D-001D.

In accordance with the decision submitted to FFMS in relation to the additional issue of securities and the prospectus, OGK-4 will place 23 billion ordinary shares, each with a par value of 0.4 ruble. The total amount of the issue (based on its par value) is 9.2 billion rubles.

The decision to increase the OGK-4 authorized capital by placing 23 billion uncertificated registered shares, each with a par value of 0.4 rubles, was made by the OGK-4 Extraordinary General Meeting of Shareholders on April 23, 2007. The additionally issued shares will be placed through a public offering; payment will be made in cash. The OGK-4 authorized capital is increased through an additional issue with a view to raising funds in the amount of up to 46,523,907 thousand rubles, and it is planned to use these funds to finance the Company's investment program.

These materials are not an offer for sale of any securities of OAO OGK-4 (the «Company») in the United States, the Russian Federation, Australia, Canada or Japan.  Any securities of the Company may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended.  The Company does not intend to register any portion of the offering in the United States or to conduct a public offering of any securities in the United States.

This communication is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the «Order») or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as «relevant persons»). Any person who is not a relevant person should not act or rely on this communication or any of its contents.

Any offer of securities to the public that may be deemed to be made pursuant to this communication in any EEA Member State that has implemented Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the «Prospectus Directive») is only addressed to qualified investors in that Member State within the meaning of the Prospectus Directive.

Information contained in this document is not an offer, or an invitation to make offers, sell, purchase, exchange or transfer any securities in the Russian Federation or to or for the benefit of any Russian person or any person in Russia, and does not constitute an advertisement of any securities in the Russian Federation and must not be passed on to third parties or otherwise be made publicly available in the Russian Federation.