OREANDA-NEWS. On 06 June 2008 was announced, that on 30 May 2008 the annual general shareholders meeting of IDGC of Centre, JSC took place in the form of a meeting (joint presence).

The meeting approved the annual report of the Company for 2007, the annual accounting reporting for 2007, including profit and loss statement of the Company.

According to the accounting reporting of the company for 2007, as of 31 December 2007 the balance sheet total of the Company equals 301.20 million rubles. The Company assets are as follows: non-circulating assets: 58.85 million rubles, including the fixed assets at the residual cost: 18.54 million rubles; circulating assets equal 242.36 million rubles, including debt receivable: 85.79 million rubles, money resources: 150.54 million rubles, stocks: 6.02 million rubles. The accounts payable of the Company on 31.12.2007 equal 59.17 million rubles.

Results of the Company financial and economic activity in 2007 are characterized by the following features: the proceeds were received in the amount of 983.36 million rubles, the production cost of the goods, works, services equaled 928.37 million rubles. Following the results of work in 2007 the Company received net profit in the amount of 51.25 million rubles.

The Audit Committee of IDGC of Centre, JSC confirmed that the accounting reports of the company for 2007 reflects authentically in any material respect the financial position of IDGC of Centre as of 31 December 2007 and results of financial and economic activity of the Company.

The meeting of shareholders approved the following distribution of profit (loss) of the Company following the results of 2007:

                                                                    (thousand rubles) 

Net surplus (loss) of the period under report:              51 251,4 

To distribute to:     the reserve fund                                - 

                                Accumulation fund                   51 251,4 

                                Dividends                                      - 

                                Repayment of past years loss         - 

The shareholder took the resolution not to pay a dividend per the Company ordinary shares following the results of 2007.

The Company Board of Directors was elected as follows:

Alexander Markovich Branis, Director of the Moscow office of Prosperity Capital Management

Alexander Grigorievich Starchenko, Director for the power industry of NLMK, JSC

Alexey Vitalevich Klaptsov, Vice President of Halcyon Advisors company

Pavel Ivanovich Okley, Head of IDGC Management Centre of UES FGC, JSC

Evgeniy Fedorovich Makarov, General Director of IDGC of Centre, JSC

Sergey Borisovich Syutkin, Member of the Board, general director of ODA Branch of SO UES, JSC

Dmitry Alexandrovich Burnashev, Chief of the Business Planning Department of CC of RAO UES of Russia

Alexey Romanovich Kachay, Chief of the strategy department of RMS of RAO UES of Russia

Vyacheslav Mikhailovich Kravchenko, Director of the department for the structural and tariff policy in natural monopolies of the Ministry of Industry and Power (Minpromenergo) of Russia

Andrey Aleksandrovich Demin, Vice President of the Board of UES FGC, JSC

Misrihan Shapievich Misrihanov, General Director of TEG Centre branch of UES FGC, JSC

The Audit Committee was elected as follows:

- Lyudmila Romanovna Matyunina, First Deputy Chief of the Internal Audit Department of CC of RAO UES of Russia;

-Igor Alikovich Zenyukov, Deputy Chief of the Department for the Corporate Governance and Shareholder Relations of CC of RAO UES of Russia;

-Anatoly Valerievich Baitov, Head of the Management of the Financial Control And Internal Audit of UES FGC, JSC;

-Marina Alekseevna Lelekova, Deputy Head of the Management of the Financial Control and Internal Audit of UES FGC, JSC;

-Dmitry Vladimirovich Sklyarov, Chief of the Department for the Internal Control and Audit of IDGC of Centre, JSC.

It was resolved to approve KPMG, JSC as the Company Auditor (Moscow, license No. Е 003330 of 17 January 2003).