RAO Unified Energy System

[Copperfield]

RAO UES shareholders approve balance sheet for 2003

RosBusinessConsulting. Wednesday, Jun. 30, 2004, 5:55 PM Moscow Time

RAO UES shareholders have approved the balance sheet, and the income statement for 2003 at their general annual meeting, which took place in Zelenogragd today. The company's RAS net income declined 20.6 percent to RUR24.6bn (about $848m) in 2003. Core revenue slid 1.7 percent to RUR51.6bn (about $1.779bn). RAO UES sales decreased 4.6 percent to RUR30.8bn (about $1bn). 83.5 percent of RAO UES shareholders took part in the annual meeting.