The company’s financial statements in the year 2002

	THE COMPANY’S FINANCIAL STATEMENTS IN THE YEAR 2002
	The Company’s abbreviated balance sheet as at 31 December 2002, mln roubles*
	The information below has been extracted by RAO “UES of Russia” management from the full set of statutory financial statements, which were audited by ZAO “PrisewaterhouseCoopers Audit”. The auditor’s opinion presented in the previous section was issued on the full set of statutory financial statements (which are not included in this document) and does not apply to the condensed version of the balance sheet and profit and loss statement presented by the management below. The excerpted abbreviated statements should be read in conjunction with the full set of audited statutory financial statements


	01.01.02	31.12.02



Assets	326,981	341,151

Intangible assets	-	-

Fixed assets at net book value	117,926	47,718

Investments in non-working assets	20,272	19,996

Long-term financial investments	112,829	223,613

Inventories	1472	1,267

Value Added Tax on purchases	1302	2,302

Accounts receivable	45,693	22,348

Short-term financial investments	23,694	18,363

Cash and cash equivalents	3,793	5,541

Other working assets	-	3

Capital and Liabilities	326,981	341,151

Charter capital	21,558	21,558

Share premium and revaluation reserve	193,613	127,271

Capital reserve	3,234	3,234

Social security funds	12	-

Retained profit of preceding years, including funds	22,599	87,415

Retained profit of the accounting year	-	31,427

Long-term loans	15,598	4,623

Long-term accounts payable	7,085	7,604

Short-term loans	11,963	13,032

Short-term accounts payable	50,732	44,672

Payables to founders on incomes’ payments	308	94

Deferred income	50	165

Reserve fund for future expenses and payments	68	-

Other liabilities	161	56


* Russian Accounting Standards Changes in the balance currency as at 1 January 2002 are due to the reassessment of fixed assets.


	1 January 2002	31 December 2002



Net revenues from sales of goods, products, work and services (less value added tax, excise duty and other similar obligatory payments)	38,614	52,591

Cost of sold goods, products, work, services	10,062	16,948

Commercial expenditures	354	426

Management expenditures	2,247	2,846

Gross profit	25,951	32,371

Interest receivable	73	444

Interest payable	403	3,929

Earnings from equity interest in other companies	1,192	2,124

Other operating income	49,941	61,438

Other operating expenses	50,801	62,483

Other non-operational income	570	17,117

Other non-operational expenses	2,909	2,387

Profit before taxes	23,614	44,695

Profit tax and other similar obligatory payments	10,850	13,307

Profit from business activity	12,764	31,388

Exceptional income	29	66

Exceptional expenses	16	27

Net (undistributed) profit for the accounting period *	12,777	31,427


* Russian Accounting Standards


	The Company’s Profit and Loss Statement as at 31 December 2002, mln roubles*