OJSC GPB Will Be Paying Agent for RusHydro Bonds

August 1st, 2011

Gazprombank Will be Paying Agent for RusHydro Bonds

JSC RusHydro (ticker symbol: RTS, MICEX, LSE: HYDR; OTCQX: RSHYY) announces that it has signed a contract with OJSC GPB to provide services as the paying agent for documentary non-convertible interest-bearing bonds payable to the bearer with obligatory centralized storage, series 01 and 02, with an option for early redemption at the request of the owners and at the discretion of RusHydro.

The State registration number for the securities issue, and the date of the State registration series 01 are: 4-01-55038-E dd. September 23rd, 2010; series 02: 4-02-55038-E dd. September 23rd, 2010.

Gazprombank is to provide services as the paying agent to pay bond coupon yields for each coupon period and at par value at the maturity of the bonds.

For more information:

JSC RusHydro, Investor Relations Department

Tel. +7 (495) 225-3232 ext. 1319, 1394, 1607

[email protected]

DISCLAIMER

The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. One 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 from these statements.

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 and rapid technological and market changes in our industries, as well as many other risks specifically related to RusHydro and its operations.