OREANDA-NEWS. The Board of Directors of RAO "UES of Russia", acting in the capacity of the AGM of OAO "HydroWGC", approved the Annual Report, the annual financial statements, the profit and loss account of the Company for 2006.

The Board of Directors also approved the allocation of profit for 2006 (except for RUB1.14 billion of profit previously distributed as [interim] dividends on ordinary shares of HydroWGC for Q1, H1, and 9M 2006).

In 2006, OAO "HydroWGC" had retained earnings of RUB357.74 million. It was decided to allocate RUB75.21 million to the legal reserve and RUB282.53 million to the accumulation fund.

Taking into account the dividends paid [by HydroWGC] in respect of Q1, H1, and 9M 2006, the Board of Directors of RAO "UES of Russia" decided to not to pay the dividends on shares of OAO "HydroWGC" for 2006.

The Board of Directors resolved to pay interim dividends of RUB1,119 million (RUB0,00793872 per ordinary share of HydroWGC) for Q1 2007.