On July 3, 2007 Federal Financial Markets Service (FFMS) registered the reports on issuing results of Volga Territorial Generation Company (TGC-7) ordinary registered shares of 1 (one) ruble nominal value in the total amount of 23 426 150 308 shares.

The shares of regional holding companies (Samara TGC, Saratov TGC and Ulyanovsk TGC) have been converted into the above securities on June 1, 2007. We remind that in 2004-2006 reorganization of Samaraenergo, Saratovenergo and Ulyanovskenergo took place that resulted in detachment of all thermal power stations, which were vested to Volga TGC. The completed conversion procedure enabled the shareholders of Samaraenergo, Saratovenergo and Ulyanovskenergo to retain their property after Volga-basin power companies split and reformation.

Therefore, shareholders of Volga TGC obtained the right to settle bargains with securities, owned by them, on over-the-counter market. Introduction of TGC-7 shares to Russian stock exchange without listing procedure is scheduled for August 1, 2007.

For reference. OJSC “Volga Territorial Generation Company” (TGC-7) was founded on August 1, 2005 within the frame of Samara, Saratov, Ulyanovsk and Orenburg power systems restructuring project.

Basic activity of the company is production of thermal and electric power, electricity sales on wholesale market, heat supply to municipal and industrial consumers.

In total Volga Territorial Generation Company incorporates 21 stations of total capacity of 6 879.7 MW for electric power and 30 687,2 Gcal for thermal power. Volga TGC is the second largest TGC in Russia in terms of installed capacity.

Authorized capital of Volga TGC consists of 26 116 076 165 shares of 1 ruble nominal value each. Company’s shares are held by 19 114 natural persons, 149 legal entities and 22 companies that are nominal holders of Volga TGC shares. 54,47% shares of Volga TGC are in possession of RAO UES of Russia and 45,53% shares are owned by minority shareholders.