OREANDA-NEWS. RAO "UES of Russia" has announced the results of its EGM held through absentee voting on 6 December 2006, which considered the matters relating to the Company's reorganization.

The shareholders approved the proposed spin-off of OAO "WGC-5 Holding" and OAO "TGC-5 Holding" from RAO "UES of Russia", elected the Board members of WGC-5 Holding and TGC-5 Holding, approved the merger of OAO "WGC-5 Holding" and OAO "TGC-5 Holding" with and into OAO "WGC-5" and OAO "TGC-5", respectively, and approved the interested party transaction (series of interested party transactions) involving the acquisition by RAO "UES of Russia" of additional shares in OAO "UES FGC".

After the first phase of the reorganization, RAO UES shareholders will hold shares in RAO "UES of Russia", as before, and acquire shares in OAO "WGC-5" and OAO "TGC-5".