TGC-1 completes the placement of corporate ruble bonds of the 2nd series

08.07.2009

JSC “TGC-1” announces that July 7 it successfully completed placement of corporate ruble bonds of the 2nd series for a total amount of RUR 5 billion with a 5-year maturity at MICEX stock exchange.

The demand for the bonds significantly exceeded the supply. The first coupon rate on TGC-1 bonds of the 2nd series set at 16.99% p.a. The securities have a 2-year put option.

The bonds have been included in quotation list “B” of MICEX stock exchange. As previously communicated, TGC-1 intends to include both its bond issues in quotation list “A2” at MICEX.

Bookrunners were Gazprombank and Gazenergoprombank.

The issue was registered by the Federal Financial Markets Service of Russia 21 October 2008. The bonds mature after 1820 days starting from the date of the placement. Thestateregistrationnumberforthesecuritiesis4-02-03388-D.

Boris Vainzikher, TGC-1 CEO, commented: “We foresaw the demand for our bonds, but the outcome exceeded our expectations. This confirms our attractiveness for investors and reputation of a reliable borrower. I’d like to note that we were the first among Russian electric utilities companies to carry out a market placement of bonds this year. We intend to use the proceeds from the offering to finance our high-priority investment projects».