OREANDA-NEWS. March 28, 2011. Joint Stock Company “FGC UES” (“Federal Grid” or the “Company”), the operator and manager of Russia’s unified electricity transmission grid system, announces today that it has successfully completed listing of its Global Depository Receipts (“GDRs”) on the Main Market of the London Stock Exchange (“Listing”), and trading in the GDRs has commenced today on the International Order Book of the London Stock Exchange.

Federal Grid is the operator and manager of Russia’s unified electricity transmission grid system. With over 121,000 km of transmission lines and approximately 800 substations with over 305 GVA of installed transformer capacity, it is the largest publicly traded electricity transmission company in the world.

The Company was incorporated in June 2002 as part of the reorganization of Russia’s electrical power industry. The Russian government is the largest shareholder with a 79.48% stake. Federal Grid’s ordinary shares have been admitted to trading on RTS and MICEX under the trading symbol "FEES". The Company is included in the MSCI Emerging Markets and MSCI Russia indices.

Federal Grid’s unlisted Rule 144A and Regulation S GDR programmes in respect of its shares has been established since February 2008, with one GDR representing 500 ordinary shares in Federal Grid. These programmes have now been changed to allow listed trading on the London Stock Exchange. Federal Grid’s GDRs will be traded under the symbol "FEES". There is no offering of GDRs or shares in any jurisdiction in connection with the Listing.

VTB Capital plc was appointed as financial advisor, and Allen & Overy LLP was appointed as legal advisor in connection with the Listing.

Oleg Budargin, Chairman of the Management Board, commented:

“We are delighted to see the launch of trading in Federal Grid’s GDRs on the London Stock Exchange. This is an important milestone for Federal Grid, which is a leading Russian blue chip company and the largest electricity utility in Russia by market capitalisation.

Federal Grid aspires to become a global leader in introducing innovation and power-saving technologies to the electricity transmission operations.

We operate in a modern, regulated market environment and are committed to delivering value to our shareholders and investors.

The reason for this listing is to make it easier for international investors to access our shares. We believe that this international listing will help to boost the liquidity of our depositary receipts and further diversify our investor base“.