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JSC RusHydro Announces a Regular Meeting of the Board of Directors

JSC RusHydro (ticker symbol: RTS, MICEX, LSE: HYDR; OTCQX: RSHYY) announces that on October 29th, 2010 a meeting of the Company's Board of Directors was held in absentia.




JSC RusHydro's Board of Directors passed a Resolution on the additional issue of securities and on the Company's Prospectus.


The Board of Directors approved a Resolution on the additional issue of 1,860,000,000 ordinary registered shares with a par value of one ruble per share. The placement will occur via public offering and payment is due upon full share placement.


The State registration of the additional securities issue and the Prospectus is planned for December 2010. An Announcement concerning the State registration of the additional issue of JSC RusHydro shares and a Notice on the possibility of exercising the pre-emptive right to purchase additional shares will be published in accordance with applicable Russian legislation and the Company's Articles of Association.


The list of persons enjoying the pre-emptive right to acquire additional shares was drawn up September 14th, 2010 (the date that a list of persons eligible to participate in the Company's  Extraordinary General Meeting (EGM) of  shareholders was compiled).


Funds raised through the share placement will principally be used to reconstruct the Company's Baksanskaya HPP, as well as for the corporate investment program.

On October 22nd, 2010, an Extraordinary General Meeting of shareholders resolved to increase the Company's charter capital by placing additional ordinary registered shares.

In accordance with Article 19 of Russian Federal Law No. 39FZ "On Securities Market" (dated April 22nd, 1996), in the case of public offerings, State registration of additional securities issues must be accompanied with registration of their prospectus.


The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. One can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," or the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially from these statements.


We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia and rapid technological and market change in our industries, as well as many other risks specifically related to RusHydro and its operations.

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