OREANDA-NEWS. RAO "UES of Russia" has released the consolidated interim financial statements of RAO UES Group (the "Group") for the first half of 2006 prepared in accordance with the International Financial Reporting Standards (IFRS).

As at 30 June 2006, the Group's accounts receivable totalled RUB142.3 billion, up RUB12.4 billion from the beginning of the reporting period.

The Group's long-term and short term borrowings as of 30 June 2006 totalled RUB141.1 billion, an increase of RUB13.6 billion from the beginning of the year. The majority of the increase was due to the new loans raised by the Group's entities, and Mosenergo's issue of interest-bearing non-convertible bonds.

As at 30 June 2006, the Group's short-term accounts payable (except for borrowings) totalled RUB154.8 billion, up RUB6.7 billion during the reporting period, following the tax legislation amendments relating to VAT refund.