Chelyabinsk power generating company JSC is going to hold AGM via absentee voting on July 24, 2006. The only point on the agenda is the one of reorganizing the company by merging with Tyumen Regional Generating Company JSC (alongside with TGK-10), with the following approval of the corresponding agreement and of the deed of assignment.

The list of shareholders allowed to take part in the decision-making process was complied according to their status as of June 8, 2006.

According to the company’s spokesperson, this extraordinary meeting is one of the steps taken to set up a united enterprise to be called TGK-10. The Board of Directors of RAO UES of Russia (the controlling shareholder) approved of the merger of the three companies as well as of the change of the name. The new TGK-10 is expected to be set up in December 2006.

In case the shareholders vote against the merger or fail to take part in the voting procedure, they may demand that Chelyabinsk power generating company JSC buy all or part of their shares. These will be bought at the price set by the company’s Board of Directors (.7541 RUR per ordinary share and .6906 RUR per preference share (type A)).