OREANDA-NEWS. RAO "UES of Russia" announces upcoming auctions to sell 49 percent shares in OAO "Vologda Retail Company"

The public auction to sell the stake held by RAO "UES of Russia" will be held on 23 May 2007. Bids will be accepted from 16 May through 22 May 2007.

The auction reserve prices for the share holdings in OAO "Vologda Retail Company" determined based on an independent appraiser's report was RUB250 million with a price increment of RUB10 million.

The auction will be arranged by OAO "Urals Energy Management Company", an Accredited Agent of RAO "UES of Russia". Both Russian and foreign legal entities and natural persons may take part in the auction. The bidder that offers the highest price will be named the winner.