OREANDA-NEWS. November 21, 2007. JSC OGK-5 Board of Directors approved recommendations to the Company's shareholders in relation to a mandatory offer for shares acquisition received from Enel Investment Holding B.V. The Board recommended the shareholders to choose the buy-out option, OGK-5's press service reports.

The Board of Directors acknowledged that the price of 4,42750 rubles proposed for a share in the mandatory offer is sound and well-grounded.

The recommendations note that the price offered corresponds to legislative requirements of the Russian Federation set forth in regard to to the order of price determination based upon the mandatory offer, and exceeds the average weighted price of one share of JSC OGK-5 for the last six months.

The Board of Directors recommended the Company's shareholders to consider that in future, the market cost of JSC OGK-5 shares may vary in a broad range due to a number of factors some of which are beyond the control of OGK-5.