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October 29, 2007

IFC “METROPOL” will act as an organizer of placing of additional issue of shares of Open Joint Stock Company "TGK-11"

The Board of Directors of Open Joint Stock Company "TGK-11" following the results of conduct of competitive negotiations affirmed the Consortium of investment banks IFC” METROPOL” and Close Joint Stock Company “Raiffeisenbank Austria” as an investment and financial adviser for rendering of services for preparation and monitoring of additional issue of shares of Open Joint Stock Company  "TGK-11".
The financial adviser developed a scheme for placing of additional issue of shares of Open Joint Stock Company "TGK-11" which was approved on 26th of October, 2007 by the Board of Directors of RAO UES of Russia. The scheme assumes parallel preparation of the sale to the strategic investor and public flotation. The decision on choice of a concrete variant will be accepted at a later stage of the transaction proceeding from estimation of the best alternative for the generating company. In case of sale of additional issue of shares to the strategic investor, it will become a buyer of the government’s share, and at the sale in the market the Board of Directors of RAO UES of Russia will make an individual decision on the way of realization of the government’s shareholding.
The limit of size of additional issue - 181 billion of ordinary shares of nominal value 0,01 roubles which corresponds to 35,2 % of the current authorised capital and 26 % of the increased capital.
Due to the additional issue TGK-11 expects to raise up to 8 billion roubles which are planned to assign for financing of investment projects of reconstruction of Omsk thermal power station-3 and construction of Omsk thermal power station-6.

Open Joint Stock Company "TGK-11" following the consolidation at the end of the first half of November, 2007 will become one of the largest energy companies of the Western Siberia. A basic line of activity of Open Joint Stock Company "TGK-11" is production of electric and heat energy as well as realization of heat (steam and hot water) to consumers. Thus, the company controls 4 thermal power stations, 1 state district power station (the city of Tomsk), 2 boiler-houses, a heating system enterprise.
The total installed electric capacity of the enterprises operated by Open Joint Stock Company "TGK-11" - 2 026 MW; the total heat power - 8 241 Gcal, the total thermal-transmission distance - 806 km.

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"METROPOL" Investment Financial Company Ltd.
Phone: 8 (495) 933-3310
Address: 13 bld 1 Donskaya str, Moscow, Russia 119049