Minutes of 03.03.2011 №119

MINUTES No. 119

OF THE BOARD OF DIRECTORS MEETING


Date and time of the Board of Directors meeting

(date and time of vote counting):                                      March 3, 2011, 6:00 p.m.

                                                                                     (Moscow time)

Minutes Dated:                                                                March 3, 2011

Form of vote:                                                                  Absentee vote

Site of vote counting:                                                       Mosсow, Arkhitektora Vlasova Str., 51

Number of elected members of the Board of Directors          13


Members of the Board of Directors present at meeting:        S. I. Shmatko (Chairman)

                                                                                    A. B. Ballo

                                                                                    S. S. Beloborodov

                                                                                    E. P. Volkov

                                                                                    E. V. Dod

                                                                                    V. M. Zimin

                                                                                    B. Yu. Kovalchuk

                                                                                    V. V. Kudryavy

                                                                                    G. M. Kurtser

                                                                                    A. B. Malyshev

                                                                                    M. V. Seliverstrova

                                                                                    R. R. Sharipov


In compliance with the Federal Law on Joint-Stock Companies and the company's Articles of Association the quorum for conducting the Board of Directors Meeting is present.


AGENDA OF THE BOARD OF DIRECTORS MEETING:


1. A complex modernisation programme for power generating facilities of JSC RusHydro for the period until 2025.


RESULTS OF VOTING ON AGENDA:


Matter 1: A complex modernisation programme for power generating facilities of JSC RusHydro for the period until 2025.


Decision:

1. Take the complex modernisation programme for power generating facilities of JSC RusHydro for the period until 2025 as the basis (hereinafter referred to as the CMP) (Appendix 1).

2. Instruct the Management Board of JSC RusHydro:

2.1. To submit for consideration by the company's Board of Directors the company's business plan for 2011-2015 drawn up in accordance with the company's Investment Programme for 2011-2013 and approved by the Board of Directors.

Deadline before March 15, 2011.

2.2. Refine the company's investment programme and CMP taking into consideration the maximum economic effect from these measures. Introduce the corresponding of amendments to the company's Investment Programme for 2011.

Deadline before May 25, 2011.

2.3. Submit for consideration by the Ministry of Energy of the Russian Federation the company's draft Investment Programme for the period of 2012 to 2014 taking into account the CMP financing volumes during this period.

Deadline before March 15, 2011.

2.4. Pursuant to approved company's Investment Programme for 2011 ensure that the CMP is included in the company's business plan for the period of 2011 to 2015 and submit it for consideration by the Board of Directors.

Deadline before June 30, 2011.

2.5. Submit the CMP progress reports to the Board of Directors of the company on a quarterly basis along with the reports on progress of the company's Investment Programme submitted as part of the company's business plan for consideration by the Board of Directors.


Voting results:

"For" - 12 (S. I. Shmatko, A. B. Ballo, S. S. Beloborodov, E. P. Volkov, Е. V. Dod, V. M. Zimin, B. Yu. Kovalchuk, V. V Kudryavy, G. M. Kurtser, A. B. Malyshev, M. V. Seliverstrova, R. R. Sharipov).

"Against" - 0.

"Abstained" - 0.

Decision made.





Chairman of the Board of Directors                                     S. I. Shmatko


Secretary of the Board of Directors                                     M. M. Davydov

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