JSC OGK-2 - Annual Report and Accounts

RNS Number:2428S
JSC OGK-2
14 April 2008

JSC OGK-2
April 14, 2008

"OGK-2" JSC (RTS: OGKB/OGKBG; MICEX: OGK2, GDR: London Stock Exchange - OGK2,
ISIN: US6708482095),

Russian Wholesale Power Generating Company, presents audited results for 2007
prepared in accordance with the Russian Accounting Standards (RAS).

Balance Sheet statement as of December 31, 2007:

The assets of "OGK-2" JSC ("Company") as of December 31, 2007 amounted to 43,475
million rubles (as of December 31, 2006 - 17,076 million rubles).

The Company's short-term accounts receivable as of December 31, 2007 amounted to
2,472 million rubles, the long-term accounts receivable came to 2,535 million
rubles.

The equity capital of the Company as of December 31, 2007 amounted to 34,478
million rubles (as of December 31, 2006 - 9,579 million rubles).

The short-term liabilities of "OGK-2" JSC as of December 31, 2007 amounted to
2,064 million rubles.

Profit and Loss Statement for the year 2007:

Revenues of "OGK-2" JSC in 2007 amounted to 33,759 million rubles (in 2006 - to
8,259 million rubles); at that, gross profit amounted to 1,119 million rubles.

Income before taxes of "OGK-2" JSC in 2007 amounted to 426 million rubles, net
profit - to 39 million rubles.

The comparative data of 2007 are given with regard to the Company only and do
not include the data of "Stavropol GRES" JSC, "Troitsk GRES" JSC, "Serov GRES"
JSC, "Pskov GRES" JSC and "Surgut GRES-1" JSC of 2006 before the time of
reorganization in the form of consolidation - September 28, 2006, as they could
not be determined with sufficient degree of reliability.

The reliability of the financial (accounting) statement of "OGK-2" JSC for 2007
is confirmed by audit report of "PriceWaterhouseCoopers Audit".

The complete financial statements of "OGK-2" JSC for the year 2007 (at Russian)
are available on the Company's corporate web-site at www.ogk2.ru.

Copies of resolutions have been submitted to the UK Listing Authority's document
viewing facility situated at the Financial Services Authority, 25 The North
Colonnade, Canary Wharf, London, E14 5HS.

For Further Information:

Svetlana Klimyuk,
Head of IR,
OGK-2
56 Profsoyuznaya str,
Moscow, Russia
KlimyukSV@ogk2.ru
Tel.: +7 495 981-3039
Fax: +7 495 981-3482

This information is provided by RNS
The company news service from the London Stock Exchange
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