OREANDA-NEWS. July 2, 2007. A meeting of the Board of Directors of JSC OGK-5 took place. The Board of Directors approved the decisions about the additional share issue and the prospectus of OGK-5’s securities.

At the last OGK-5’s reorganisation stage, as a result of conversion of JSC OGK-5 Holding shares into JSC OGK-5 shares, RAO UES shareholders will receive OGK-5’s shares in proportion to the stake of RAO UES in the share capital of OGK-5. In order to secure the legal rights of shareholders during the conversion of OGK-5 Holding shares into OGK-5 shares, the Annual General Shareholders’ Meeting of OGK-5 made the decision to increase the share capital of OGK-5 by placement of additional ordinary non-documentary shares in the amount of 1 million and with the par value of 1 RUB, the total value of the block being 1 million RUB. The placement method for the additional shares is conversion.

The Board of Directors considered several important transactions which can inflict foreign-currency liabilities. In particular, the Board approved the long-term service agreement with General Electric.

Moreover, the Board of Directors considered and approved a number of internal decisions, including the decision about election of new Board Committees of OGK-5.