INTERNAL AUDIT COMMITTEE
of IDGC of Centre, JSC
Minutes No. 01/09 dd. June 16, 2009
Elected by the resolution of the General Meeting of Shareholders

INTERNAL AUDIT COMMITTEE REPORT
According to the results of the audit of financial and business activity of

"Interregional Distribution Grid Company", 
Joint-Stock Company
Name of the Company

For the year 2009

April 09, 2010
Moscow

INFORMATION ON THE COMPANY		
Full name	"Interregional Distribution Grid Company", Joint-Stock Company	
Legal address:	129090, Moscow, per. Glukharyov, d. 4/2	
Postal address:	129090, Moscow, per. Glukharyov, d. 4/2	
Contact information:	Tel.:(495)747-92-92 Fax:(495)747-92-95 E-mail: posta@mrsk-1.ru	
State registration (Primary State Registration Number (OGRN), date)	1046900099498, December 17, 2004	
Taxpayer Identification Number (INN) / Tax Registration Reason Code (KPP)	6901067107/770801001	
Branches and separate subdivisions with autonomous balance sheets	Branches:
-	branch of IDGC of Centre, JSC – Belgorodenergo;
-	branch of IDGC of Centre, JSC – Bryanskenergo;
-	branch of IDGC of Centre, JSC – Voronezhenergo;
-	branch of IDGC of Centre, JSC – Kostromaenergo;
-	branch of IDGC of Centre, JSC – Kurskenergo;
-	branch of IDGC of Centre, JSC – Lipetskenergo;
-	branch of IDGC of Centre, JSC – Oryolenergo;
-	branch of IDGC of Centre, JSC – Smolenskenergo;
-	branch of IDGC of Centre, JSC – Tambovenergo;
-	branch of IDGC of Centre, JSC – Tverenergo;
-	branch of IDGC of Centre, JSC – Yarenergo.	
Executive Body
(Full name, position, date of accession) of all within the accounting period and events after the balance sheet date	Evgeny Fyodorovich Makarov Director General December 17, 2004	
Chief Accountant
(Full name, position, date of accession) of all within the accounting period and events after the balance sheet date	Svetlana Yuryevna Puzenko
Director for accounting policy, April 26, 2007	
INFORMATION ON MEMBERS OF THE INTERNAL AUDIT COMMITTEE	
Chairman of the Internal Audit Committee	Olga Vladimirovna Rokhlina	
Secretary of the Internal Audit Committee	Бунин Вадим Евгеньевич	
Members of the Internal Audit Committee	Lyudmila Romanovna Matyunina	
	Irina Vasilyevna Mikhno	
	Anna Yuryevna Katina	

INFORMATION ON THE AUDITOR		
Full name of the company	HLB Vneshaudit Closed Joint Stock Company	
Legal address (location):	109180, Moscow, ul. B. Yakimanka , d. 25-27/2	
Postal address:	123610, Moscow, Krasnopresnenskaya nab., 12
entrance 3, office 701	
		
State registration (Primary State Registration Number (OGRN), date)	1027739314448 January 14, 2005.	
Licenses (Membership in self-regulated organisations, date of joining, name of the self-regulated auditors association)	Licenses:
- License to perform audit activity No. E 000548 issued by the Ministry of Finance of the Russian Federation on June 25, 2002, effective until June 25,2012.  - License of Federal Security Service of the Russian Federation GT No. 0002045, registration number 11141 dd. November 19, 2007, effective until October 24, 2012.
Member of Professional Auditors Institute, Non-profit Partnership, Self-Regulating Organisation (Primary Registration Number 10202000095)
Date of joining – October 30, 2009.	
Minutes of the Annual Meeting of Shareholders (approving the auditor, confirming the accounting (financial) statements)	Minutes No. 01/09 dd. June 16, 2009	
Audit report	February 27, 2010	
11
Signatories of the audit report
Full Name, Auditor’s Certificate, membership in self-regulated organisations)	L.M. Mitrofanov, Director General
(Auditor’s qualification certificate of competence in general audit No. 010089, dd. December 25, 1997, issued for an indefinite period, number in the register of auditors and audit companies – 20402002484). Ye.S. Maksimova, Head of the audit committee (Auditor’s qualification certificate of competence in general audit No. 013564, dd. March 30, 2004, issued for an indefinite period, number in the register of auditors and audit companies – 20402002462).	

I. ANALYTICAL PART
The audit was performed in accordance with:
-	Federal Law "On Joint-Stock Companies";
-	Company’s Articles of Association;
-	Regulation on the Audit Committee;

-	Resolution of the Annual Meeting of Shareholders on election of the Audit Committee (Minutes No. 01/09 dd. June 16, 2009);
-	Resolution of the Audit Committee on approval of this Report (Minutes No. 6 dd. April 14, 2010);
-	Other regulations and resolutions of the Company’s authorised bodies.
Goal of the audit: confirmation of reliability of the accounting (financial) statements and annual report of the IDGC of Centre, JSC (hereinafter referred to as Company) for 2009, hereinafter collectively referred to as "Statements". The reliability in any material respect shall mean the accuracy rate of the Statements’ data which shall allow pursuant to the statements to make up correct conclusions about the Company’s performance, its financial and property status and take motivated decisions pursuant to these conclusions.
Object: accounting (financial) statements, annual report, conformity of Company’s business with existing laws and internal local regulations.
This Report is an official public document intended for the shareholders, investors and other related parties.
The audit was performed in accordance with:
-	Federal Law No. 129-FZ "On Accounting" dd. November 21, 1996;
-	Order of the Ministry of Finance of the Russian Federation No. 34n "On approval of the regulation on accounting and accounting statements in the Russian Federation" dd. July 29, 1998;
-	Order of the Ministry of Finance of the Russian Federation No. 67i "On the forms of accounting statements of companies" dd. July 22, 2003;
-	Other legal and internal local regulations.
Company’s executive body shall be held liable for compliance of business operations with the laws of the Russian Federation.
The audit was planned and performed to obtain reasonable assurance that the annual report and accounting (financial) statements for 2009 are free of material misrepresentations.
This was a sampling audit including test-based examination of the evidence confirming the values and disclosure in the Statements of information on financial and business activities of the Company, evaluation of the accounting principles and rules applied to the preparation of Statements, determination of basic estimated figures.
During the audit we considered compliance of the Company’s business with laws of the Russian Federation. Several financial and business operations performed by the Company were audited with respect to compliance with laws only for the purposes of obtaining reasonable assurance that the Statements contain no misrepresentations.
During the Audit we determined materiality level (level of aggregate tolerated error) Materiality shall mean the ability of the information disclosed in annual statements and annual report to influence the decisions taken pursuant to the Statements. Level of aggregate tolerated error shall be the criterion for confirmation of Company’s Statements reliability.
In accordance with our calculations materiality level amounts to 2,073,300 roubles.
Audited period:
We performed the Audit of the Statements, attached to the Report, for the following period:
1)	accounting period:
from January 01, 2009 to December 31, 2009 in terms of financial and business activity for 2009.
2)	Post-balance-sheet events:
from	01.01.2010	to	09.04.2010
Reporting date is the last date of the Audit.
Statements are made up in compliance with laws and regulations of the Russian Federation (Russian Accounting Standards) and internal local regulations of the Company.

	Statements approved by the Internal Audit Committee of the Company:	
11.1!.	forms	Forms of accounting document	Date of Approval by the management	Number of sheets in the document	
1.	№1	Balance Sheet (consolidated for all separate subdivisions of the Company)	27.02.2010	4	
2.	№2	Profit and Loss Statement (consolidated for all separate subdivisions of the Company)	27.02.2010	5	
3.	№3	Statement of Changes in Equity	27.02.2030	3	
4.	№4	Cash Flow Statement	27.02.20)0	1	
5.	№5	Appendix to Balance Sheet	27.02.2010	6	
6.	-	Explanatory Note (consolidated for all separate subdivisions of the Company)	27.02.2010	33	
7.		Audit Report on Accounting (Financial) Statements of IDGC of Centre, JSC for 2009	27.02.2010	3	
8.	~	Annual report (consolidated for all separate subdivisions of the Company reflecting information on subsidiaries and dependent companies)		107	

We believe that our Audit provides a reasonable basis for our opinion about the reliability of the Company’s Statements.
II. SUMMARY
In our opinion, the Company’s statements for 2009 attached hereto, present fairly, in all material respects, the financial status and performance of the Company for the period from January 01, 2009 to December 31, 2009 inclusive. The Statements have been drawn up in accordance with the requirements of the laws of the Russian Federation regarding preparation of the accounting (financial) statements, and regarding audit and issue of the audit report and in accordance with the internal local regulations regarding Company’ s annual report generation.

SPECIAL OPINION
Members of the Audit Committee have no special opinion differing from the one specified in the Summary of the Report.
Approved by the Minutes of the Audit Committee No. 9 dd. April 09, 2010.

Chairman of the Internal Audit Committee				O.V. Rokhlina