OGK-4 Net Profit as per RAS for Nine Months of 2007 Is 1,367 Million Rubles

The net profit of Fourth Generation Company of the Wholesale Electricity Market (OGK-4) in accordance with the Russian Accounting Standards (RAS) for the nine months of 2007 is 1,367 million rubles. The Company's net profit margin is 6%. OGK-4's revenue from sold goods, products, work, and services is 22,765.7 million rubles, with production costs of 20,692.6 million rubles.

EBITDA is 2,824 million rubles, with an EBITDA margin of 12.4%. OGK-4's sales profit is 2,073.1 million rubles, while its profit before tax is 1,985.9 million rubles.

It would be incorrect to compare the financial performance of OGK-4 for the nine months of 2007 with its financial results for the equivalent period in the previous year. OGK-4 was incorporated on March 4, 2005, and its core business was the execution of functions of a sole executive body from September 1, 2005, to July 1, 2006. Since July 1, 2006, on completion of its reorganization through a merger with Surgutskaya GRES-2, BGRES-1, Shaturskaya GRES-5, Smolenskaya GRES, and Yaivinskaya GRES, OGK-4 has been engaged in production activities as a single operating company.