Moscow, August 06, 2012 - Open Joint Stock Company "INTER RAO UES" ("INTER RAO UES", "Company", ticker on MICEX-RTS, LSE (Reg S): IRAO; on LSE (Rule 144 A): IRAA), the largest diversified utilities holding in Russia, announces that on August 02, 2012 INTER RAO UES ("Principal") has executed a Bank Guarantee Agreement #IGR12/MSHD/7701-7704/4279 with JSC VTB Bank ("VTB Bank", "Guarantor").
Taking into account the commitment of INTER RAO UES" ("Principal") to provide financial security in accordance with a purchase order as of 10/08/2012 (Purchase Order) # 5100084587, signed by INTER RAO UES ("Principal") and BARIVEN S.A. represented by PDVSA Services B.V. (the Netherlands) for the supply of gas turbines, and the Contract as of 11/17/2010 executed between INTER RAO UES ("Principal") and BARIVEN S.A.(Venezuela), VTB Bank ("Guarantor") shall provide BNP Paribas ("Beneficiary", the Netherlands) with the instructions to issue bank guarantee , as well as issue bank guarantee in favor of BNP Paribas ("Beneficiary") on the terms and conditions specified in the Bank Guarantee Agreement, and INTER RAO UES ("Principal") shall compensate amount paid to BNP Paribas ("Beneficiary") under the Guarantee, pay a fee for issuance of the Guarantee and fulfill other obligations under the Bank Guarantee Agreement. The term of the Guarantee: until December 30, 2012.
The total amount of guarantees issued is 16,648,586.50 USD (538,285,428.44 in RUB at the rate of the Bank of Russia as of 08/02/2012).
A Bank Guarantee Agreement #IGR12/MSHD/7701-7704/4279 as of August 02, 2012 is considered a related party transaction for INTER RAO UES pursuant to legislation of the Russian Federation and has been approved by its Annual General Meeting of Shareholders on June 25, 2012.
The foregoing information is disclosed in compliance with the Securities Act of the Russian Federation.
For further information, please contact INTER RAO UES:
Irina Makarenko Head of Investor Relations +7 495 967-05-27 (ext. 2008)
Svetlana Chuchaeva Head of Corporate Relations +7 495 967-05-27 (ext.2081)
INTER RAO UESis a diversified utilities holding headquartered in Moscow and managing assets in different countries. The company produces and sells electric energy and heat, trades energy on the international market, and engineers, designs and builds generating assets.INTER RAO UES Group owns and operates approximately 28,000 MW of installed power generating capacity. INTER RAO UES corporate strategy is focused on making the company a global energy enterprise and a key player in the international energy market.
Further information can be found at www.interrao.ru
This announcement is not intended to, and does not constitute, or form part of, an offer to sell or an invitation to purchase, exchange or subscribe for any securities in any jurisdiction. This announcement does not constitute a prospectus or a prospectus equivalent document.
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