OGK-4 ENTERS INTO FIRST AGREEMENTS FOR UNIT 3 COMPLETION PROJECT FOR BEREZOVSKAYA TPP

Generation Company Four of the Wholesale Market of Power and Energy (OGK-4) has entered into two agreements under the investment program for implementation of the Power Unit 3 Completion Project for Berezovskaya TPP Subsidiary of OGK-4.

Specifically, the Agreement for Correction of the Project Documentation on the SPP-800 Start-Up Complex at Berezovskaya TPP was entered into with the General Designer, South Engineering Center of Electricity Industry Rostovteploelektroproekt Institute. This work is to be completed in 12 months from the Agreement date.

In addition, the Agreement for Preparatory Work on the Berezovskaya TPP Power Unit 3 Construction Site was entered into with KATEKenergoremont. According to this document, the deadline for completion of this work is July 31 2007.

The two companies indicated above became preferred bidders under the relevant open biddings announced by OGK-4 in late 2006.

The Power Unit 3 Completion Project for Berezovskaya TPP was defined by the OGK-4 Board of Directors as one of the top priority lines of the Company's activity. The construction of 800-MW Power Unit 3 of Berezovskaya TPP-1 was suspended in the mid-1990s. As of today, about 50% of construction work has been completed. The project is supposed to be completed in 4Q2009.