APPENDICES

		APPENDIXES I. The Company’s financial statements in the year 2001

I.1. The Company’s abbreviated balance sheet*

The information presented below has been extracted by RAO "UES of Russia" management from the full set of statutory financial statements, which were audited by ZAO PricewaterhouseCoopers 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.

		million roubles
	01.01.2001	01.01.2002
Assets	184 887	263 038
Intangible assets	31	17
Fixed assets at net book value	50 080	53 909
Construction in progress	15 872	20 272
Long-term financial investments	90 196	112 958
Inventories	925	1 536
Value Added Tax on purchases	416	1 302
Accounts receivable	25 163	45 557
Short-term financial investments	1 841	23 695
Cash and cash equivalents	363	3 792

Capital and liabilities	184 887	263 038
Charter capital	21 558	21 558
Share premium and revaluation reserve	123 693	128 958
Capital reserve	3 234	3 234
Social security funds	46	12
Retained profit of preceding years, including funds	16 870	10 540
Retained profit of the accounting year		12 777
Long-term loans	3 043	15 598
Long-term accounts payable	0	6 883
Short-term loans	981	11 963
Short-term accounts payable	15 050	50 927
Payables to founders on incomes' payments	7	308
Deferred income	250	51
Reserve fund for future expenses and payments	39	68
Other liabilities	116	161

*Russian standards of accounting

Changes in the total assets of RAO "UES of Russia" as at 01.01.2001 were due to:

Reassessment of individual items of fixed assets;
Adjustment of Balance Sheet items, due to methodological changes of reflection of parameters in it.

I.2. The Company’s profit and loss statement**

			million roubles
	2001			2002
Net Revenues (from sales of products, works and services) (net of value added tax and other similar obligatory payments)		22175	38611

Cost of sold goods, products, works, services		7484	10061
Commercial expenditures		178	354
Management expenditures		1 644	2 246
Gross profit		12 869	25 950
Interest receivable		33	73
Interest payable		243	403
Earnings from equity interest in other companies		480	1 191
Other operating income		21 610	49 944
Other operating expenses		22 878	50 803
Other non-operational income		711	570
Other non-operational expenses		2 191	2 908
Profit before taxation		10 391	23 614
Profit tax and other similar obligatory payments		3 993	10 850
Profit from normal activity		6 398	12 764
Exceptional income		1	29
Exceptional expenses		16	16
Retained profit in the accounting period		6 383	12 777

**Russian standards of accounting

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