Russian open joint-stock energy and electrification company “UES of Russia”

Russia Federation, Moscow

Dear shareholder!

OAO RAO “UES of Russia” Annual General shareholders meeting

(further on – Meeting)

is to be held on June 29, 2005
at the following address: Moscow, Zelenograd, Centralnaya Sq., 1
To get there  from Moscow: Leningradsky railway station – trains to “Kryukovo” station,

metro station “Rechnoy vokzal”, bus 400
Meeting starts at 11.00. am

We would like to note that for the purpose of timely registration of shareholders before the Meeting

Registration is scheduled for June 28  from  10.00 am to  18.00 pm, June 29  from  8.00am 

Considering large number of people having the right to vote at the Meeting we kindly ask you to register in advance or cast an absentee vote.       

Date of making the list of shareholders who have the right to participate in the Meeting

May10, 2005

Preliminary consideration of shareholders’ proxies will be held on June 10-27, 2005 at ZAO “Registration company “STATUS” located: 109544, Moscow, Dobrovolcheskaya St., 1/64. This procedure is not obligatory for shareholders.

There you may also have a look at standard forms of proxies and get recommendations on their preparation.

Agenda of the Meeting:

1. Approval of OAO RAO “UES of Russia” annual report for 2004 , annual financial report, including profit and loss statement (profit and loss accounts), and distribution of profit and loss according to financial year results.

2. On dividends payment.

3. Introduction of amendments and alterations into OAO RAO “UES of Russia” Charter.

4. Introduction of alterations into Company internal documents regulating its activities.

5. Approval of OAO RAO “UES of Russia” auditor.

6. Election of OAO RAO “UES of Russia” Board of directors’ members.

7. Election of OAO RAO “UES of Russia” Auditing comity members.

You can have a look at materials for OAO RAO “UES of Russia” shareholders meeting in
ÎÀÎRAO “UES of Russia” office located: Moscow, Vernadskogo prospect, 101, build.3, office 0307, telephone: 710-6877, 710-5584 (for legal entities), http: www.rao-ees.ru; in ZAO “Registration company “STATUS” located: 109544, Moscow, Dobrovolcheskaya St., 1/64. telephone: 974-83-50 (for physical entities).

OAO RAO “UES of Russia” Board of directors.