STANDARD&POOR`S HAVE REVIEWED RATINGS ON FGC

STANDARD&POOR`S HAVE REVIEWED RATINGS ON FEDERAL GRID Co.

Moscow, 6 February 2015

On 4 February 2015, following its downgrade of the Russian Federation sovereign credit rating, Standard & Poor's lowered the long-term credit ratings of Federal Grid Company of the Unified Energy System ("FGC UES").

The Company's long-term foreign and local currency credit ratings were lowered from BBB-/Negative to BB+/Negative.

The Company's national scale long-term credit rating was lowered from ruAAA/Negative to ruAA+.

The rating agency's press release on 4 February 2014 notes, "We continue to see a "very high" likelihood that the Russian government would provide timely and sufficient extraordinary support to FGC in the event of financial distress, and assess the company's SACP at 'bb+'. The negative outlook reflects our expectation that the ratings on FGC will continue to be capped by the foreign currency sovereign ratings on Russia."

The full text of the Standard & Poor's press release is available on the rating agency's website: www.standardandpoors.com.

FGC UES's credit ratings from Fitch Ratings and Moody's Investor Service were also downgraded following those agencies' downgrades of the Russian Federation sovereign credit rating.

FGC UES's current credit ratings are available on the Company's website: http://www.fsk-ees.ru/eng/investors/bond_information/ratings_of_the_issuer/