Results of the BoD on November 13,2013

November 14, 2013

Results of the Board of Directors on November 13, 2013

JSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting in absentia on November 13, 2013.

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The Board of Directors approved the amendments to JSC RusHydro's business-plan (non-consolidated) for 2013-2017 with regard to the Company's investment program for 2013 as well as relevant adjustments to quarterly funding plans and implementation of capital investments in 2013.

The amended amount of the non-consolidated investment program for 2013 totals RUB 78,870.09 mn (incl. VAT). Funding of construction of the Boguchansky aluminum smelter, a joint project of RusHydro and UC RUSAL, planned for 2013 amounted to RUB 18,930.51 mn (incl. VAT). The capacity to be installed in 2013 amounts to 896 MW.

Major factors for these amendments are:

· inclusion of priority projects in the Far East of Russia in the Company's investment program in order to execute the President's decree and in accordance with conditions of allocation of budget funds aimed to finance the construction of generating facilities in the Far East;

· optimization of reconstruction costs of the Company's facilities in terms of technical upgrade and modernization;

· adjustments to the implementation schedules of the number of investment projects and relevant amendments to funding plans of these projects;

· adjustments to the implementation schedule of the experimental Severnaya tidal electric station and deferral of financing due to optimization of project documentation.

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The Board of Directors approved the amendments to the list of non-core assets of RusHydro.

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The Board of Directors approved combining positions by the following members of RusHydro's management board in governing bodies of other organizations:

- Mikhail Mantrov, Deputy Chairman of the Management Board of RusHydro, with position of member of the Board of Directors of VolgaHydro LLC;

- Vladimir Pekhtin, Deputy Chairman of the Management Board of RusHydro, with position of Chairman of the Supervisory board of NP Hydropower of Russia, and President of NP NOE;

- Boris Bogush, Member of the Management Board, Chief Engineer of RusHydro, with position of member of the Board of Directors of VolgaHydro LLC.

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The Board of Directors approved the 17-year loan agreement between RusHydro, ING Bank and Credit Agricole Corporate and Investment Bank in the amount of up to EUR 200 mn secured by Oesterreichische Kontrollbank Aktiengesellschaft export credit agency.

The loan facility is aimed to finance modernization of hydro turbines of the Saratovskaya HPP under addendums to the agreement between RusHydro and Voith Hydro GmbH & Co KG signed in 2012 and 2013. The modernization plan provides for the replacement of all hydro turbines of the plant within 10 years.

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The Board of Directors approved additional contribution of funds to share capital of VolgaHydro LLC in the amount of RUB 45 mn, qualified as an interested-party transaction.

The funds will be contributed within two months after approval of the increase of share capital of VolgaHydro by the company's AGM. RusHydro's and Voith Hydro's share in shares capital of VolgaHydro remain unchanged.

The Board of Directors of RusHydro approved the agreement with Voith Hydro for comprehensive modernization of hydro turbines of the Saratovskaya HPP and establishment of a joint venture (JV) for these purposes. On June 19, 2013, the Company's Board of Directors approved participation of RusHydro in the JV "VolgaHydro" LLC, located in Russia and aimed at manufacturing of hydro turbine equipment, established together with Voith Hydro. RusHydro's share in the share capital is 50% plus RUB 1 share, the share of Voith Hydro is 50% minus RUB 1.

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The Board of Directors approved Regulations on the procedure of technological assessment and price audit of major investment projects of RusHydro and commissioned Evgeny Dod, Chairman of the Management Board of RusHydro, to develop within 60 days and submit for the Board of Directors' consideration the Regulations on mandatory technological assessment and price audit of the Company's and its subsidiaries' major investment projects.

The Regulations set the procedure of public technological assessment and price audit of RusHydro's investment projects which estimated cost exceeds RUB 1.5 bn, including the projects financed without budget funds of the Russian Federation members and budgetary allocations of the Investment fund of the RF.

The Board of Directors took note of the results of public technological assessment and price audit of the following projects and extended its implementation to February 15, 2014:

· The Kankunskaya HPP;

· The Ussuriyskaya TPP;

· The Leningradskaya pumped storage plant.

On July 15, 2013, in accordance with the guideline of the government of Russia the Company's Board of Directors considered carrying out a technological assessment and price audit of the investment projects with completed prefeasibility studies and commissioned Evgeny Dod, Chairman of the Management Board of RusHydro, to develop and submit for the Board of Directors' consideration the Regulations on mandatory technological assessment and price audit of the Company's and its subsidiaries' investment projects which estimated cost exceeds RUB 1.5 bn.

About RusHydro:

RusHydro Group is one of Russia's largest generating companies. RusHydro is the leading producer of renewable energy in Russia with over 70 generating facilities in Russia and abroad. The company also manages a number of R&D, engineering and electricity retail companies. Group's thermal assets are operated by subsidiary - RAO Energy System of East in the Far East of Russia. Total electricity generation capacity of the Group is 36.5 GW, heat capacity - 16.2 thousand GCal/h.

Russian Federation owns 67.1% in RusHydro, the rest is held by other institutional and individual shareholders (over 360,000). The company's stock is traded on the MICEX and RTS stock exchanges, and included in MSCI EM и MSCI Russia indexes. Company's GDRs in the IOB section of LSE, ADRs - in OTCQX.

For more information:

Investor Relations Department

Tel. +7 (800) 333 8000 ext. 1607, 1319, 1304

[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.