St. Petersburg, March 21, 2008. On March 19, 2008 open joint-stock company Severo-Zapadnaya TETs repurchased 452,900 ordinary shares of Severo-Zapadnaya TETs, owned by LLC Gazprom Transgaz Saint Petersburg. The repurchase amount is 195,154,610 roubles (430.9 roubles per share). The package of ordinary shares repurchased amounts to 2.7% of the authorized capital of Severo-Zapadnaya TETs.

The shares were repurchased under Art. 75 of the Federal Law on Joint-Stock Companies upon request by the shareholders who had voted against the decision to reorganize the company.

It will be recalled that the resolution to reorganize Severo-Zapadnaya TETs in the form of a merger with Sochinskaya TES was passed at the general meeting of shareholders of the company, which took place in December 2007.