OAO “IDGC OF URALS”: FIRST CORPORATE GOVERNANCE RATING

04 December 2008

ОАО “IDGC of Urals” (RTS and MICEX: MRKU), united operating company of the Urals region exercising control over distributive grid complexes in Sverdlovsk, Chelyabinsk, Kurgan and Perm regions – reports on assignment of corporate governance rating.

Consortium of Russian Institute of Directors and Rating Agency “Expert RA” assigned National Corporate Governance Rating, Level “6” (Developed Corporate Governance Practice) to OAO “IDGC of Urals”.

Corporate governance practice of the Company was evaluated by four aspects:

  • Shareholder rights;
  • Activities of management and control bodies;
  • Information disclosure;
  • Activities to the benefit of other interested parties and corporate social responsibility.

According to the scale of National Corporate Governance Rating of the Consortium the Company has low corporate governance risks. ОАО “IDGC of Urals” observes Russian legislation on corporate governance, most of recommendations stipulated in the Russian Corporate Behavior Code and several recommendations of international leading corporate governance practice.

More detailed report on corporate governance practice at ОАО “IDGC of Urals” can be found on our corporate web-site at www.mrsk-ural.ru at Section “About Company/Corporate Governance Standards”.

We remind that assignment of corporate governance rating continues targeted policy of the Company to improve Corporate Governance standards.

For additional information on the Company, please, visit the Company’s corporate web-site (www.mrsk-ural.ru) as well as Complex Information Disclosure System (www.skrin.ru), Interfax (www.interfax.ru) and AKM (www.akm.ru).

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