30 June 2008 the Annual General Meeting of shareholders of JSC FGC UES was held in Moscow.

This Meeting was the last annual general meeting where two shareholders of the Company participated (JSC “RAO “UES of Russia” owns 83.87 per cent of votes and the Russian Federation owns 16.13 per cent). All subsequent meetings will be held with participation of much more stakeholders. Those meetings will be attended by former stakeholders of backbone grid companies (excluding JSC “Kuban backbone grids” and JSC “Tomsk backbone grids”) and of JSC “RAO “UES of Russia” who became JSC FGC UES shareholders starting from 1 July 2008.

The Annual General Meeting of shareholders of JSC FGC UES has approved 2007 annual report of the Company as well as the annual statutory accounting reports and the Profit and Loss Statement. In accordance with the statutory accounting reports (prepared under the Russian Accounting Regulations), earnings of JSC FGC UES for 2007 amounted RUR 61,385 million, profit from sales amounted RUR 6,280 million.

Dividends for 2007 were approved in the amount of RUR 380 million. Thus, 16.55 per cent of net profit of JSC FGC UES earned in 2007 will be paid as dividends. The amount of dividend per one ordinary share will equal RUR 0.0007977370096.

The Annual General Meeting of shareholders of JSC FGC UES has elected the Board of Directors of JSC FGC UES composed of (positions are indicated as of the date of nomination for the Board of Directors of the Company):

02.07.2008