OREANDA-NEWS. The Board approved the extension of the agreement between RAO "UES of Russia" and OAO "UES FGC" on the fiduciary management of IDC shares for six months and instructed the Management Board of RAO "UES of Russia" to take the appropriate measures to that end.

Also, the Board of Directors instructed the Management Board to draft and submit to the Board of Directors, in Q1 2007, the proposed amendments to the terms of fiduciary management agreement, its objectives, and the criteria for assessing their efficiency, taking into account the objectives of distribution business restructuring and the time frame for RAO UES reorganization.

After the approval of the amendments by the Board, the fiduciary management agreement will be prolonged until the second phase of the Company's reorganization is completed.