RusHydro announces the start of open subscription

May 15th, 2012

RusHydro announces the start of open subscription to shares of new issue

JSC RusHydro (ticker symbol: MICEX-RTS, LSE: HYDR; OTCQX: RSHYY) announces the date of open subscription to shares of new issue (state registration no. 1-01-55038-Е-040D dated August 16, 2011).

Offers to purchase shares (hereinafter - offers) could be submitted no later than 15 days as of the date of publication of the invitation to submit offers in the regulatory filing on Interfax wire and on the Company's website. RusHydro reserves the right to prolong the period of accepting offers, provided that the end date of said period is no later than 45 days prior to expiration of a 1-year term since the date of state registration of the new issue of shares. In this case RusHydro will give additional notice.

The offers will be collected by both RusHydro and its broker - JSC IK EVROFINANSY. The information on offer submission is available in Russian on the website of the broker:

http://www.eufn.ru/index.php?option=com_content&task=view&id=996&Itemid=151.

The said broker is not an underwriter or market-maker for the securities, its functions are restricted solely to collecting and registering the offers. RusHydro is organizing the placement of securities independently. In accordance with prospectus, RusHydro reserves the right to accept or decline received offers.

The Annual General Meeting of shareholders of RusHydro approved an increase of the Company's authorized share capital by issuing 89,000,000,000 additional ordinary shares with a par value of RUR 1 per share on June 30th, 2011.

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.