Results of the EGM

16 January 2012. Moscow, Russia. - MRSK Holding (LSE: MRSK) (“the Company”), the largest electricity distribution company in Russia, announces that the EGM of shareholders held on 14 January, 2012 approved the early termination of the powers of members of the Board of Directors of MRSK Holding elected by the AGM on 22 June, 2011.

The EGM approved the election of Georgy Boos and Vladimir Kolmogorov to the Board of Directors and re-elected the rest of the Board of Directors of the Company:

1. Andrey Bokarev - non-executive director

2. Georgy Boos - non-executive director

3. Sergey Borisov - non-executive independent director

4. Pavel Borodin - non-executive independent director

5. Vladimir Kolmogorov - non-executive independent director

6. Vyacheslav Kravchenko - non-executive director

7. Viktor Kudryavy - non-executive independent director

8. Georgy Kutovoy - non-executive director

9. Seppo Jukha Remes - non-executive independent director

10. Sergey Serebryannikov - non-executive director

11. Vladimir Tatsiy - non-executive director

12. Tomas Khendel - non-executive director

13. Denis Fedorov - non-executive independent director

14. Igor Khvalin - non-executive independent director

15. Nikolay Shvets – executive director

For further information:

Maria Stepanova, Head of IR,


FTI Consulting

Larisa Millings / Marc Cohen
Oleg Leonov / Maria Shiryaevskaya
+44 20 7831 3113
+7 495 795 0623

MRSK Holding is the largest electricity distribution company in Russia and, the Company believes, one of the largest electricity distribution companies in the world by length of distribution lines and installed transformer capacity. MRSK Holding holds interests in and manages 11 interregional and five regional distribution grid companies in Russia. As at 31 December 2010, MRSK Holding together with its subsidiaries owned and operated approximately 2.1 million kilometres of electricity distribution lines with a total installed transformer capacity of approximately 402 GVA. Through its subsidiaries, the Company operates in 69 regions of Russia, covering an area of approximately 7.7 million square kilometres occupied by approximately 85 percent of Russia's total population according to Rosstat. The Company reported revenues of RUB 322.3 billion and total comprehensive income of RUB 26 billion for the six months ended 30 June 2011.

Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of MRSK Holding. You can identify forward looking statements by terms such as “expect,” “believe,” “anticipate,” “estimate,” “intend,” “will,” “could,” “may” or “might” 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. 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, rapid technological and market change in our industry, as well as many other risks specifically related to MRSK Holding and its operations.

This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares or other securities of MRSK Holding and/or any of its subsidiaries and affiliated companies, nor shall any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation or advertising regarding the shares or securities of MRSK Holding and/or any of its subsidiaries and affiliated companies.

This document is not directed at, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction.

This communication is directed only at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within (a)–(d) Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as “relevant persons”). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

Any offer of securities to the public that may be deemed to be made pursuant to this communication in any EEA Member State that has implemented EU Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the “Prospectus Directive”) is addressed solely to qualified investors (within the meaning of Article 21(1)(e) of the Prospectus Directive) in that Member State.

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