OGK-4 REGISTERED ORDINARY SHARES INCLUDED IN MICEX QUOTATION LIST B

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

Registered ordinary shares in Generation Company Four of the Wholesale Power Market (OGK-4) have been included in Quotation List B of Moscow Interbank Currency Exchange. The Contract for Introduction and Maintenance of Securities into MICEX Quotation List B was entered into on May 22, 2007.

It is expected that shares in OGK-4 will resume being traded on MICEX in the near future. 

The trade in OGK-4 shares had been suspended on the Russian trading floors due to the April 25, 2007, conversion of OGK-4 shares of the first issue (par value: 1 ruble per one ordinary share) to those of the second issue with a lower par value (0.4 ruble per share). The state registration number of the second issue of OGK-4 shares is 1-02-65104-D. The Report on the Issue Results was registered by the FFMS on May 3, 2007.

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.