OGK-4 BOARD OF DIRECTORS addresses issues related to preparation of Annual General Meeting

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The Board of Directors of Generation Company Four of the Wholesale Power Market (OGK-4) has addressed the issue on preliminary approval of the OGK-4 Annual Report according to the results of the 2006 financial year. It was decided to recommend the Annual General Meeting that the 2006 Annual Report should be approved.

The Board of Directors has also approved the 2006 OGK-4 Annual Financial Statements, which will be submitted for approval to the Annual General Meeting of the Company. It was recommended that the shareholders of OGK-4 should approve the payment of dividends according to the 2006 results, on the basis of 0.004071 ruble for one ordinary share in OGK-4 in cash within 60 days from the date of the decision on dividend payment. Out of the total amount of undistributed profits for 2006 (514,246,000 rubles), it was recommended that 200,011,000 rubles should be allocated for dividend payment, 288,523,000 rubles for investment, and 25,712,000 rubles for the reserve fund.

In addition, the OGK-4 Board of Directors has recommended the shareholders that they should make the following decision on the dividend payment according to the results of 1Q07: 0.0030531 ruble for one ordinary share in OGK-4 in cash within 60 days from the date of the decision on dividend payment. It is planned to allocate a total of 150 million rubles for the dividend payment according to the results of 1Q07.

The OGK-4 Annual General Meeting is scheduled for May 25, 2007. The list of persons entitled to participate in the Meeting was made as of April 10, 2007.

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

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.

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