The Board of Directors of JSC INTER RAO UES decided to convene the extraordinary general meeting of shareholders to address the Company’s reorganization and approved proposals related to the reorganization of JSC INTER RAO UES in the form of a takeover by Sochinskaya TES. The extraordinary general meeting of shareholders is invited to make a decision on the Company’s reorganization in the form of a takeover by Sochinskaya TES and to approve the contract pertaining to the takeover of INTER RAO UES Holding, JSC INTER RAO UES, Kaliningradskaya TETs-2, Severo-Zapadnaya TETs, and Ivanovskiye PGU by Sochinskaya TES.

Besides, the Board of Directors approved the buyout price for the shares in JSC INTER RAO UES held by the shareholders voting against the decision on the reorganization at the meeting or not taking part in the voting on this issue.

The extraordinary general meeting of shareholders of JSC INTER RAO UES on the Company’s reorganization will take place on December 19, 2007 in Moscow and will be held in the form of a physical meeting with attendance by the shareholders.