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Annual general shareholders meeting

Annual general shareholders meeting. «IDGC of Centre», JSC, 11 June 2009.

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Annual general shareholders meeting

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  1. Annual general shareholders meeting «IDGC of Centre», JSC, 11 June 2009 Item № 1 “Approval of the annual report for 2008, annual accounting reports for 2008, including profit and loss state-ment of the company and the allocation of profit (including distribution of dividends) and losses based on the results of 2008 financial year “ General Director – Evgeny Fedorovich MAKAROV

  2. Important comments In addition to the official information about the Company’s activity, this presentation contains the information obtained from third parties. This information has been obtained from sources which, according to « IDGC of Centre», JSC, are reliable. We, nevertheless, can not guarantee the accuracy of this information, which can be shortened or incomplete. All the opinions and appraisals contained in this material reflect our views on the publication day and are subjected to changes without notice. The information provided in this presentation is not offered as the sole basis for making any decisions concerning the securities or companies in this presentation. IDGC of Centre is not responsible for the consequences of usage of opinions or statements or incomplete information contained in this presentation. IDGC of Centre assumes no obligation to update the information contained in the presentation. Despite the fact that till 31.03.2008, IDGC of Centre has not been the operating company, annual report contains consolidated data for all DGC-area headed by IDGC of Center, including the period from 31.03.2008. The information about Company’s financial and plant data is received as the sum of the corresponding figures of 11 DGC, joined to IDGC Center. Despite the fact that in 2006 and 2007 (at the time IDGC of Center and Northern Caucasus) more than 11 companies were headed by IDGC of Center, for correct comparison, the information for these periods is shown for 11 DGC of the current configuration. 2

  3. Company’s History 17.12.04 IDGC of Center is registered in order to further inter-regional integration as an adherence to the Company of distribution companies. 27.04.07 the final Company’s configuration is approved, comprised of 11 regional grid companies of the Center of Russia: “Belgorodenergo”, “Bryanskenergo”, “Voronezhenergo”, “Kostromaenergo”, “Kurskenergo”, “Lipetskenergo”, “Orelenergo”, “Smolenskenergo” , “Tambovenergo”, “Tverenergo”, “Yarenergo”( “RAO UES of Russia” decision, the protocol № 250 of 27.04.07). 31.03.08 - the date of DGC accession to the IDGC of Center (on the basis of a decisions of general meetings of 􀂫IDGC of Centre », JSC and 11 DGC shareholders). 21.05.08 IDGC of Center shares are admitted to trades on the MICEX (MRKC) and RTS (MRKC; MRKCG). 01.07.08 JSC “IDGC Holding” becomes a majority shareholder of the Company with a 50,23% share of the stated capital. 3

  4. IDGC of Centre map IDGC of Centre Belgorodenergo Bryanskenergo Voronezhenergo Kostromaenergo Kurskenergo Lipetskenergo Orelenergo Smolenskenergo Tambovenergo 1 2 3 4 5 6 7 8 9 10 11 Tverenergo Yarenergo 4

  5. Key figures Authorization of capital (31.12.2008) Number of shareholders (04.05.2009) Revenues (2008 ) Net profit (2008) Net asset value (31.12.2008 ) Productive supply (without other TNO 2008) The length of the lines (on HV li ne 0.4 — 110 kv 31.12.2008.) Station capacity (31.12.2008 ) 35 — 110 кВ 6 — 35/0,4 кВ Number of staff (31.12.2008) 16,1 bln. RUB. 549 bln. USD 17170 43,6 bln. RUB. 0,9 bln. RUB. 39,7 bln. RUB. 56,6 bln.kWh 362 329,2 km 30592,7 MVA 14460,11 MVA 23 680 people 5

  6. Security market MICEX Index, MICEX PWR dynamics comparison, and IDGC of Center capitalization in 2008 Shares codes on stock exchanges : MICEX RTS classic RTS market MRKC MRKC MRKCG Basic multipliers на 31.12.2008г. EV/Sales EV/EBITDA P/E EV/ Productive supply 0,58 4,67 18,4 0,45 IDGC of Center stocks are better then industry average index by 5%

  7. Stockholders' equity ‘07 ‘08 50,23% 11,32% 50,23% 15,86% 4,97% 3,20% 2,98% 2,70% 1,76% 1,59% 3,66% 3,20% 2,60% 1,79% 1,29% 1,01% 1,10% 21,25% 19,26% Free float – 30% ROA EU of RUssiaS Prosperity Capital Management Citigroup Global Markets Limited IMMENSO ENTERPRISES LIMITED DeutscheBank Инвест. Холдинг "Энергетический союз" Pictet & Cie, Banquiers Skandinaviska Enskilda Banken AB (publ) Others Free float – 30% Holding MRSK, JSC Jamica Limited MELLON BANK N.A. IMMENSO ENTERPRISES LIMITED Energosouz Holdings Limited Halcyon Power Investment Company Limited Skandinaviska Enskilda Banken AB (publ) PROSPERITY RASSVET LIMITED Citigroup Global Markets Limited Others In 2008 Free float Did not change 7

  8. Корпоративное управление Changes in corporate governance in 2008 General Shareholders Meeting Reliability Committee Strategy and development Committee Audit Committee Personel and Remuneration Committee Board of Directors Technical connection to the power grinds committee (founded in February 2009) Director General Board - New Governing Bodies 8

  9. Corporate Governance Rating 7 6+ B++ «7» Developed corporate governance practices 9

  10. Operating results 50 45 40 35 30 25 20 15 10 5 0 '06 '07 '08 40,2 REVENUES BY ACTIVITY 45 29,3 IN BILLION. RUB35 40 24,7 30 25 transfere э/э 20 15 10 5 0 2,8 2,6 technical accession Other activities 0,8 3 2 1 0 '06 REVENUE FROM TRANSFER '07 '08 '06 REVENUE TECH. ACCESSION IN '07 '08 Э/Эin billions. RUB. Transit revenue from other TNO Revenue without other TNO BILLION. RUB. REVENUE TECH. ACCESSION 7 10

  11. Operating results 17% 83% The market share of energy trans-mission. (in monetary terms)) 20% 80% The market share of tech-nological connection (in monetary terms) Own revenues TNO reveues IDGC of Centre revenue TNO reveues 7 11

  12. Operating results Profit / losses, aggregates Bil. BUB. 2006 2007 2008 2007/2006 2008/2007 25,9 25,9 23,1 2,8 11% 1,3 5,1% 32,4 31,6 27,5 4,8 15% 2,0 6,1% 43,6 36,9 37,6 6,0 14% 0,9 2,0% Revenue Revenue without other TNO Prime coast Total profit Profitability of sales gross profit Net profit Profitability of sales on net profit 25% 22% 19% 71% 50% 34% 17% 36% 24% -56% 7 12

  13. Operating results Capital structure Bil. RUB.. 2006 2007 2008 2007/2006 2008/2007 Shareholders’ interests Borrowed capital Including loans and credits 37,3 7,4 3,4 39,1 12,1 6,5 39,7 18,4 9,4 5% 63% 91% 1% 53% 45% 68,30 % Gearing on the liabil-ities side Cash and 17% 24% 32% 12,30 % 19,40 % short-term investments 0,11 0,38 0,07 СТРУКТУРА КАПИТАЛА НА 31.12.2008Г. Net debt 3,3 6,1 9,3 Shareholder’s interests Long-term borrowed capital Short-term borrowed capital 13

  14. Operating results Characteristic of investment activity in 2008 Bil. RUB witout VAT 9,06 7,84 Capturing 9,07 10,00 8,00 6,00 4,00 4,50 Key assets Financing Bil. RUB witout VAT Bil. RUB witout VAT 7,74 9,07 2,00 Power input Capasity gain km MVA km MVA 3 263 660 1 886 432 0,00 '06 '07 Investments, Bil. RUB '08 Investments, Bil. RUB. 14 7

  15. Operating results 100% 80% 60% 40% 20% 0% 100% 80% 60% 40% 20% 0% '06 '07 '08 '06 '07 '08 Investment structure Modernization and reconstruction new construction and expantion Other Funding Source Deprecation Profit from the e|e transfere Borrowing coasts The fee for tech. assesion Other 15 7

  16. The introduction of RAB methodology The introduction of tariff design using RAB methodology since 2009 •Belgorodenergo •Lipetskenergo •Tverenergo IDC Center - the leader in the introduction of RAB in Russia 7 16

  17. Персонал 27,00% 1,00% 26 000 25523 25351 35,00% 3,00% 34,00% 23680 25 000 24 000 23 000 22 000 '06 '07 '08 Number of stuff Number at the end of the year Agreement comes in to effect from 1st of July 2008 Stuff on 31.12.2008Г. Doctor / PhD / two or more higher degrees Higher prof. Education Secondary prof. Education Initial prof. Education Incomplete primary education 7 17

  18. Перспективы Cushioning of risks Market-share gain Increase of Managerial efficiency Development of com-pany’s security market 18

  19. Annual general shareholders meeting «IDGC of Centre», JSC, 11 June 2009 Item № 1 “Approval of the annual report for 2008, annual accounting reports for 2008, including profit and loss state-ment of the company and the allocation of profit (including distribution of dividends) and losses based on the results of 2008 financial year “ Co-presentation on the distribution of profits (including dividends) and losses based on the results of financial year 2008 Evgeny Alexeyevich BRONNIKOV — Deputy General Directorfor Economy and Finance of IDGC of Centre. 19

  20. Net profit distribution for the year 2008, mln, RUB Net income, total: distribute to: Contingency fund Accumulation fund Production development Dividends Repayment of undistributed deficit of prior years 2 164,90 108,25 2 056,66 - - - 20

  21. Enquires «IDGC of Centre», JSC 129090,Russion Federation , Moscow city, Glukharev Lane., 4/ 2 Tel.: +74957479292 Fax: +74957479292 www .mrsk-1.ru Direct Line 8 800 50 50 115 (call free) Tatyana Anatolievna KULBAKI NA Director for Corporate Relations of I DGC of Centre, JSC KulbakinaT A@mrsk-1.ru Ochkasov E. A. – Head Department for interaction between shareholders station 3033 Ochkasov_EA@mrsk-1.ru 3 21

  22. Thank you for your attention! 3 22

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