OGK-4 BOARD OF DIRECTORS APPROVES CANDIDATES FOR MEMBERSHIP IN NEW BOARD

The Board of Directors of Generation Company Four of the Wholesale Power Market (OGK-4) has considered shareholders' proposals regarding agenda items for the Annual General Meeting of Shareholders of OGK-4 and regarding candidates for management and controlling bodies of the Company.

In accordance with the decision of the Board of Directors, 15 persons were included in the list of candidates to be elected to the OGK-4 Board of Directors at the Annual General Meeting of Shareholders. The list specifies the following persons proposed by RAO UES of Russia, owning 89.6% of voting shares in OGK-4:

- Yuri Makushin – Deputy Managing Director, Business Unit No. 2, RAO UES of Russia;

- Mikhail Lisyansky – Deputy Managing Director, Business Unit No. 2, RAO UES of Russia;

- Dmitry Fedorchuk – Head of the Department for Corporate Governance, Business Unit No. 2, RAO UES of Russia;

- Anna Vasilyeva – Deputy Head of the Department for Personnel Management, Corporate Center, RAO UES of Russia;

- Aleksey Kachay – Deputy Head of the Department for Strategy, Reform Management Center, RAO UES of Russia;

- Andrey Kitashev – Director General, OGK-4;

- Igor Yurgens – Chairman of the Board of Directors, Renaissance Capital;

- Stanislav Neveynitsyn – Deputy Director General, Mezhregionsbyt;

- Yelena Ylanovskaya – Division Head, Department for Corporate Governance, Business Unit No. 2, RAO UES of Russia;

- Mikhail Molchanov – Deputy Head of the Department for Support of Project Implementation, Business Unit No. 2, RAO UES of Russia;

- Yelena Yevseenkova – Deputy Head of the Department for Economic Planning and Financial Control, Business Unit No. 2, RAO UES of Russia.

DLG Securities Limited; Wellstone Trading Limited, and Callender Trading Limited, owning an aggregate of 2.1558% of voting shares in OGK-4, proposed the following candidates for the Board of Directors:

- Nikolay Mylnikov – Director of the Legal Department, CIT Finance Investment Bank;

- Yana Ronis – Vice-President of the Department for Corporate Finance, CIT Finance Investment Bank;

- Wolfgang Skribot – Director of the Department for Corporate Finance, Gazprombank;

- Aleksey Matveev – Deputy Chairman of the Management Board, Gazprombank.

Besides, the OGK-4 Board of Directors approved five candidates for the Internal Audit Commission of the Company.

The issues relating to preparations for the Annual General Meeting of Shareholders of OGK-4 will be considered by the Board of Directors at its meeting on April 10, 2007.