LIQUIDATION OF RUSSIAN ENERGY HOLDING RAO EES NOT TO HAVE IMPACT ON ACTIVITIES OF "ELECTRIC NETWORKS OF ARMENIA"

ARKA
July 31, 2008

YEREVAN, July 31. /ARKA/. Liquidation of the Russian energy holding
RAO EES Russia will not have impact on the activities of "Electric
Networks of Armenia" closed joint stock company, the General Director
of the Armenian company Yevgeniy Gladunchik told journalists.

The liquidation of the Russian company was not an unexpected event:
it was planned and was being implemented during several years,
Gladunchik said. He added that the Russian INTER RAO EES, who was
the daughter company of RAO EES Russia and Rosenergoatom concern,
remains the full owner of "Electric Networks of Armenia"

The full package of the shares of INTER RAO EES was transferred to
the balance of the state corporation "Rosatom" under the decree of
the Russian President in April, Gladunchik said.

Russian INTER RAO EES holds 100% of the shares of "Electric Networks
of Armenia" CJSC. Distribution and sale of electricity is the main
activity of the company. The company provides services to approximately
913,000 consumers.