Deputy Prime Minister elected as Chairman of Unified Energy System

The first meeting of the Board of Directors of the Federal Network Companyof the Unified Energy System that was registered on June 25, 2002 as a100-percent subsidiary of RAO UES of Russia, was held today, according tothe Media Department of the Russian energy holding. Viktor Khristenko,Deputy Prime Minister, was elected as the Chairman of the Board ofDirectors of the Unified Energy System, while Anatoly Chubais, CEO of RAOUES of Russia, was elected as his Deputy. The Board of Directors determinedthe number of members of the Executive Board (11) and elected them.A.Rappoport is the Chairman of the Executive Board of the Unified EnergySystem. The Board of Directors also heard a report on the placement of 254bn ofcommon shares with a nominal value of RUR0.5 and a report on theestablishment of branches of the Unified Energy System. As the MediaDepartment of RAO UES pointed out, the company's branches will beestablished in order to provide reliable financing, effective operation andthe centralized management of electric power networks, which are part ofthe Unified Energy System of Russia. .

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