OREANDA-NEWS. March 11, 2008. The RAO UES Reorganization Commission recommended that the Board of Directors approve 6 June 2008 as the record date for the completion of the reorganization. The RAO UES Management Board will submit this issue for review to the Board of Directors on 28 March 2008.

The shareholders of RAO "UES of Russia" of record on the above date will be entitled to receive shares in the spin-off companies. A shareholder who buys RAO UES shares after the record date will receive only FGC shares in the course of merger of RAO UES with and into FGC.

6 June was recommended as the record date for the completion of the reorganization after preliminary consultations with the registrars and securities depositories holding shares of RAO UES and the post-restructuring companies and reviewing the procedure for distribution of post-restructuring companies' shares among RAO UES shareholders.

The registrars of the Parent Company and the spin-off companies will need at least three weeks to create the share register and distribute the shares. In that case, shares in the spin-off companies will be distributed among RAO UES shareholders in early July, as previously planned.

If the Board of Directors approves the proposal of the RAO UES Reorganization Commission, 6 June will be the last day RAO UES shares are traded on stock exchanges.