Generation Company Four of the Wholesale Electric Power Market (OGK-4) has announced a bidding for the selection of a legal adviser for the issuer in view of the intended public offering of additional shares in OGK-4. The relevant notification was posted on the OKG-4 website on September 14, 2006, as well as on the B2B-Energo website. In response to the publication of the Company's Notification, OGK-4 has received eight applications for the bidding and held negotiations with seven applicants.
Upon the consideration of the applications received, the Bidding Committee has recommended that Cleary Gottlieb Steen & Hamilton LLP should be selected as the legal adviser for the issuer in view of the intended public offering of additional shares in OGK-4.
The funds to be raised from the placement of OGK-4 additional shares are planned to be used for the implementation of investment projects related to the construction of new generation facilities at the following four TPPs that are part of OGK-4: Surgutskaya TPP-2, Berezovskaya TPP, Shaturskaya TPP, and Yaivinskaya TPP.