12. SECURITIES OVERVIEW

SHARE CAPITAL

TGC-1 share capital as of March 15, 2007 is RUR 29,022,224,950.57, and divided into 2,902,222,495,057 common nominal shares with a par value of 0.01 rubles.*

TGC-1 share capital increased considerably in 2006. It was the result of converting JSC “Kola Generating Company”, JSC “Petersburg Generating Company”, JSC “Karelenergogeneratsiya” and JSC “Apatity CHPP” shares into JSC “TGC-1” shares of additional issues

ISSUE AND FLOATING OF SECURITIES

Stocks

Principal issue

On May 17, 2006 the North-West Branch of the Federal Financial Markets Service registered principal issue of TGC–1 shares (state registration number “1-01-03388-D”).

Additional Issues

On October 24, 2006 Federal Financial Markets Service registered 7 additional JSC “TGC–1” shares issues placed by conversion of shares of JSC “Petersburg Generating Company”, JSC “Kola Generating Company”, JSC “Apatity CHPP”, and JSC “Karelenergogeneratsiya” into TGC-1 shares of additional issues.

On March 6, 2007 Federal Financial Markets Service decided to associate all TGC-1 share issues at uniform state number 1-01-03388-D.

Floating on the Stock Exchanges

On the 27th of December, 2006 JSC “TGC-1” ordinary shares started trading on the RTS Exchange Market. TGC-1 shares have been included in the Part of the Schedule “Securities Admitted to Trading but Not Listed”.

On the 9th of January, 2007 ordinary shares of JSC “TGC-1” were admitted to trading at the RTS Classic Stock Exchange. TGC-1 shares have been included in the Part of the Schedule “Securities Admitted to Trading but Not Listed”.

On the 25th of January, 2007 Moscow Interbank Currency Exchange Stock Exchange (MICEX) starts trading JSC “TGC-1” shares. Company’s shares have been included in the Part of the Schedule “Securities Admitted to Trading but Not Listed”.

TGC-1 shares have the following tickers:

• JSC “RTS”: TGKA (Classic Stock Market) and TGKAG (Order-Driven Market);
• MICEX: TGKA.

Bonds

On February 21, 2007 Federal Financial Markets Service registered JSC “TGC-1” issue of 4,000,000 (four million) certified non-convertible interest-bearing Series 01 bonds, payable to the bearer and subject to obligatory centralized deposit, with a nominal value of 1,000 rubles each.

The bonds are placed via public subscription at their nominal value (1000 rubles).

The bonds will mature on the 2,548th day from the placement date. The bonds are subject to early redemption upon demand of their owners. Early redemption is possible only after state registration of the report on issue results.

The State Registration Number for the bond issue is 4-01-03388-D.

Constantly updated information about TGC-1 securities is placed on the Company’s website: www.tgc1.ru.