RAO UES board to consider ADR program next week

On February 28, 2003, the board of directors of the Russian energy utility RAO UES of Russia will consider an ADR program to be worked out for utilities whose shares are distributed between their shareholders and for wholesale and generating companies that are being created according to energy reforms in Russia. The RAO UES public relations and mass media relations department reported to RBC that the board of directors would also consider the possibility of expanding authority for transactions with shares, stakes and property of energy subsidiaries. Finally, the board is expected to approve the results of the company's investment program for 2002, the withdrawal of non-core media assets, i.e. from REN-TV, and some other issues.

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