Moscow, 12 December 2006. Chairman of the Management Board of RAO "UES of Russia" Anatoly Chubais has been named the winner of the Russian Corporate Governance Leaders Annual Awards as Best Corporate Manager for the third year running.

Moreover, RAO "UES of Russia" has been named winner in three categories – "The Best System of Investor Relations", "The Best Annual Report", and "The Biggest Influence on Corporate Governance Development".

The Russian Corporate Governance Leaders Awards is organized by the Russian Investor Protection Association (IPA) comprising 27 leading Russian and foreign investment companies and banks with significant investments and extensive experience and expertise on the Russian market.

The most successful companies and managers are selected on the basis of various aspects of securities issuers' performance: corporate information transparency, strategic management, protection of minority shareholders, etc.

The jury noted the "ongoing and professional dialogue between RAO "UES of Russia" and the investors", "information openness", and "prompt disclosure of information". According to jury, the 2005 Annual Report "gives a detailed overview of the Company in the reform process"; it also "presents financial and operational information, and information about organizational changes and investment activities in a well-structured way".

Moreover, the IPA members said that "the electricity reform implemented by RAO "UES of Russia" is a unique example to be followed by Russian and foreign energy companies".

The Awards ceremony was held today as part of the Round Table "Corporate Governance in Russia: Results of the Year 2006".