Moscow, 26 May 2008. The annual general meeting of shareholders of OJSC INTER RAO UES will take place on June 25, 2008. This decision was made by the Company’s Board of Directors at its meeting held on May 23 in the form of absentee voting (by poll).

The annual shareholders meeting will take place at 11-00 am (Moscow time) at the following address: 12, Krasnopresnenskaya Embankment., Entrance 7, Moscow, 123610, Russian Federation. The list of persons entitled to participate in the annual shareholders meeting was compiled as of May 23, 2008.

OJSC INTER RAO UES Board members preliminarily approved the Company’s Annual Report 2007 and resolved to submit it to the annual shareholders meeting for approval. 

The Board of Directors also approved the agenda of the Company’s annual shareholders meeting, including the following agenda items:

- On approval of the annual report, annual financial statements, including the Company’s profit and loss statement;

- On distribution of profits (including payment of dividends) and losses in accordance with the results achieved in financial year 2007;

- On election of members of the Board of Directors;

- On election of members of the Internal Audit Commission;

- On approval of the Company’s auditor;

- On approval of the new version of the Company’s Charter;

The Board of Directors recommended the general meeting of shareholders to decide to pay the dividends on ordinary shares of OJSC INTER RAO UES for 2007 in the amount of 0,0000018065 rubles per one ordinary share. 

The Board members also approved the list of candidates to the Company’s Board of Directors, including:

- Dmitry Sergeevich Akhanov;

- Alexander Stalievich Voloshin;

- Andrei Vladimirovich Dementiev;

- Vladimir Aleksandrovich Dmitriev;

- Evgeniy Vyacheslavovich Dod;

- Sergey Vladilenovich Kiriyenko;

- Andrei Nikolaevich Klepach;

- Andrei Natanovich Rappoport

- Vladimir Valentinovich Travin;

- Viktor Borisovich Khristenko;

- Andrei Vladimirovich Sharonov.

Besides, the Board of Directors determined the number of members of the Management Board of OJSC INTER RAO UES. The Company’s Management Board consists of 8 members, including:

- Vyacheslav Yurievich Artamonov – Head of the Trading Division of OJSC INTER RAO UES;

- Sergey Nikolaevich Ivanov –  Head of the Strategy and Investments Division of OJSC INTER RAO UES;

- Mikhail Alekseevich Mantrov –  Head of the Corporate Center of OJSC INTER RAO UES;

- Dangiras Mikalaunas – Head of the Geographical Division “Europe” of OJSC INTER RAO UES;

- Alexander Valeriyevich Nikitin – Financial Director of OJSC INTER RAO UES, Head of Financial Division;

- Sergey Nikolaevich Tolstoguzov – Head of Asset Management Division of OJSC INTER RAO UES;

- Yuri Vladimirovich Sharov – Head of the Geographical Division “Central Asia – the Far East” of OJSC INTER RAO UES.

Evgeniy Dod is the Chairman of the Management Board of OJSC INTER RAO UES. He was appointed to this position by the decision made by the general meeting of shareholders of Sochinskaya TES (renamed OJSC INTER RAO UES) at its meeting held on May 28, 2008.

It was also recommended to the shareholders to approve Closed Joint Stock Company “NP Consult” as the auditor of OJSC INTER RAO UES.