SECURITIES PROSPECTUS

List of the issuer’s financial investment accounting for 10 percent or more of its aggregatefinancial investments as of the end of the most recent fiscal year before the date of approvalof the securities prospectusSince the issuer was established on July 1, 2008, and as of the date of approval of the securitiesprospectus, the accounting statements for quarter 3 of 2008 are not yet due, data as of July 1,2008 as specified in the initial balance sheet of the issuer are provided:The issuer does not have any financial investments accounting for 10 percent or more of itsaggregate financial investments as of July 1, 2008.5.3.3. Intangible Assets of the IssuerSince the issuer was established on July 1, 2008, and as of the date of approval of the securitiesprospectus the accounting statements for quarter 3 of 2008 are not yet due, data as of July 1,2008 as specified in the initial balance sheet of the issuer are provided:Intangible assets as of July 1, 2008: not applicable.5.4. Information Concerning the Policy and Expenses Incurred by JSC IDGC Holding in theArea of Scientific and Technological Development, in Respect of Licenses and Patents, NewDevelopments and ResearchInformation concerning the issuer’s policy in the area of scientific and technologicaldevelopment for the 5 most recently closed fiscal years, including the disclosure of research costsusing the issuer’s equity is not provided since the issuer was established on July 1, 2008, and as ofthe date of approval of the securities prospectus no fiscal years were closed.The issuer does not own any intellectual property (invention, useful model and design patents,trademarks and service marks).The issuer neither created intellectual property, received legal protection of intellectualproperty nor spent funds on the legal protection of intellectual property or research activities.In this regard, risk factors associated with the expiration of trademark patents and licenses donot exist.5.5. Analysis of Trends in the Core Business of JSC IDGC HoldingInformation concerning key trends in the branch of economy in which the issuer conductsits core business for the 5 most recently closed fiscal years or each closed fiscal year, theassessment of the issuer’s performance in this industry, conformity of the issuer’s performanceto industry trends and the reasons for such performance are not specified herein since the issuerwas established on July 1, 2008, and as of the date of approval of the securities prospectus, nofiscal years were closed.5.5.1. Analysis of Factors and Conditions Affecting the Activities of JSC IDGC HoldingFactors and conditions affecting the issuer’s activities and performance:The principal factors and conditions affecting the activities and performance of JSCIDGC Holding are transformations of the electricity industry as part of its reform and conditionsaffecting the general situation in the industry.It should be noted that all factors affecting SDCs ultimately affect the issuer’sperformance too since the principal source of the issuer’s income is dividend on the shares inIDGCs.Currently, the principal factor impacting the issuer and its SDCs is government regulationof the electric power industry, including the regulation of electricity transmission andengineering connection services and tariff-setting in respect of such services. The Government ofthe Russian Federation and authorities of the constituent entities of the Russian Federation setthe limits for electricity transmission tariffs. Russia’s average ranges between 9% and 11% peryear.Forecast of duration of the above-mentioned factors and conditions:126