Moscow, 23 August 2007. All rumours of the possible review of the price of shares of RAO "UES of Russia" which may be tendered for repurchase after the vote at the EGM of RAO UES shareholders held 26 October 2007* to consider the reorganization, are unfounded.
The share repurchase price was fixed by the Board of Directors at its meeting of 27 June 2007 (Minutes No. 256) based on the valuation report prepared by the independent appraiser, Deloitte & Touche, at RUB32.15 per ordinary share and RUB29.44 per preferred share of RAO "UES of Russia". RAO "UES of Russia" does not have any plans to review the share repurchase price either upwards or downwards.
* As provided by Russian law, shareholders of RAO "UES of Russia" who vote against the Company's reorganization during the EGM will be entitled to tender their shares for repurchase to RAO "UES of Russia".
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