Result of Board of Directors Meeting

On May 17th, 2010, JSC RusHydro (ticker symbol: HYDR; MICEX, RTS and LSE) holds its Board of Directors meeting in absentia.

The following items regarding the forthcoming Annual General Meeting of Shareholders for year 2009 are being considered:

- Approval of the agenda of the Annual General Meeting of Shareholders

- Issues related to the calling, preparing and holding of the Annual General Meeting of Shareholders

- Recommendations on the size of dividends shares and the dividend payment procedure based on the 2009 performance.

The following draft decisions are submitted to the Board consideration:

1. Determine the date of the Company's Annual General Meeting of Shareholders - June 30, 2010.

2. Determine the date of compiling a list of persons eligible to attend the Meeting - May 19, 2010.

3. Recommend that the Company's Annual General Meeting adopt the following resolution on the payment of dividends based on the 2009 performance:

No dividends will be paid on the Company's common shares based on the 2009 performance.

JSC RusHydro Member of the

Management Board E.E. Gorev

(pursuant to the power of attorney No.2576 of 24.11.2009)