Moscow, 31 July 2008. An extraordinary general meeting of OJSC INTER RAO UES shareholders is to take place in Moscow on October 23, 2008. A resolution to this effect was adopted by the Company's Board of Directors in the course of its session held 29 July by absentee voting (by poll). The resolution was passed by the session attendees in compliance with the request to hold an extraordinary general meeting of the company's shareholders filed by the Rosenergoatom concern.

The meeting is scheduled to take place at 12:00 Moscow time at the following address: Russian Federation, Moscow, Michurinsky Prospekt, Olympic Village, No 1 (premises of the State Musical Theatre of National Art), to be held in the form of meeting (joint presence). The shareholders will be given an opportunity to file completed ballots with votes on the meeting agenda items at the following addresses: 107023, Russian Federation, Moscow, Buzheninova str., No. 30, ZAO Noviy Registrator; 123610, Russian Federation, Moscow, Krasnopresnenskaya Embankement, No. 12, entrance 7, OJSC INTER RAO UES. The quorum and vote tallying at the extraordinary general meeting of the Company's shareholders will be based on the votes cast by ballots received by 21 October 2008 inclusive.

Registration of persons attending the extraordinary general meeting will be open on 22 October 2008 from 11:00 am to 5:00 pm and on 23 October 2008 from 9:00 am Moscow time at the meeting venue. A list of persons entitled to attend the extraordinary general meeting of INTER RAO UES shareholders will be made as applicable for 4 August 2008.

The INTER RAO UES Board of Directors has approved an agenda for the extraordinary general meeting of the Company's shareholders, with the following items:

1. Early termination of office of the members of the INTER RAO UES Board of Directors;

2. Election of a new Board of Directors of INTER RAO UES;

3. Approval of the revised Charter of INTER RAO UES;

4. Approval of surety agreement(s) made by INTER RAO UES with the object of securing such obligations of LLC RAO UES INTERNATIONAL FINANCE as may be incurred in connection with the issue of bonds of LLC RAO UES INTERNATIONAL FINANCE as a non-arm's length transaction (a group of related non-arm's length transactions);

5. Approval of loan agreement between INTER RAO UES (borrower) and LLC RAO UES INTERNATIONAL FINANCE (lender) as a non-arm's length transaction.

In the course of its session, the Board of Directors passed a resolution for early termination of office of INTER RAO UES Management Board member S.N. Ivanov, with the Company's new Management Board numerical membership set at 10, including:

1. Vyacheslav YurievichArtamonov – Head of the Trading Division of OJSC INTER RAO UES;

2. Mikhail Alekseevich Mantrov –  Head of the Corporate Center of OJSC INTER RAO UES;

3. Dangiras Mikalaunas – Head of the Geographical Division “Europe” of OJSC INTER RAO UES;

4. Alexander Valeriyevich Nikitin – Financial Director of OJSC INTER RAO UES, Head of Financial Division;

5. Sergey Nikolaevich Tolstoguzov – Head of Asset Management Division of OJSC INTER RAO UES;

6. Yuri Vladimirovich Sharov – Head of the Geographical Division “Central Asia – the Far East” of OJSC INTER RAO UES;

7. George Ilyich Rizhinashvili –Deputy Head of Strategy and Investment Unit, Director for Strategy and Investments of OJSC INTER RAO UES;

8. Sergey Yurievich Rumyantsev – Deputy Head of Strategy and Investment Unit, Director for Investment Programs of OJSC INTER RAO UES;

9. Timur Vadimovich Ivanov- First Vice-President of JSC Atomstroyexport.

The Management Board's former membership of 8 was approved by the session of INTER RAO UES Board of Directors which took place on 23 May 2008.

Chairman of INTER RAO UES Management Board is Evgeny Dod. The resolution to have him elected to this position was passed 28 March 2008 by the general meeting of shareholders of Sochinskaya TES (now INTER RAO UES).