OREANDA-NEWS. November 19, 2007. Standard & Poor's in its information transparency study ranked RAO "UES of Russia" fifth on the list of Russia's five most transparent companies.

According to the similar study conducted last year, RAO UES ranked the 33rd. The study says that indices of information transparency of other Russian companies remain practically the same.

Standard & Poor's notes that the significant increase of transparency in RAO "UES of Russia" is explained by the company's efforts to attract a wide range of minority shareholders to take part in the second (final) phase of the Company's reorganization. Moreover, RAO UES is taking measures to increase information transparency in the Company's subsidiaries, including WGCs and TGCs. Currently, these companies are in the process of offering additional shares to Russian and foreign strategic investors to raise funds for the projects envisaged by their five-year investment and development programmes.

S&P has conducted studies of information transparency of Russian companies since 2002. This year, it covered major Russian companies making about 80% of the aggregate capitalization of Russia's stock market. The analysis takes into account information contained in three basic sources of publicly available information: in annual reports, on web sites and in the reports filed with the regulators.