BEGNINING IN 2005 ARMENIAN POWER NETWORK TO PASS TO RAO UES OF RUSSIA, REPRESENTATIVE OF ELECTRIC NETWORK OF ARMENIA SAYS

British Midland Resources Holding Ltd. trade and industrial concern is negotiating on the sale of the Armenian distribution electric power network, Regnum news agency came to know from a source in the Electric Network of Armenia (ENA) CJSC. The source wishing to remain unknown states that the bargain has been already made. According to the report, Midland Resources Holding Ltd. representative, Director General of the Electric Network of Armenia CJSC Yevgeni Gladunchik will keep his post for a 1-year term, beginning with January 2005, when the Armenian Electric Network will pass to RAO UES. At the same time ENA press secretary Margarita Grigorian said that she does not possess any information on the bargain as well as on the allegedly conducted negotiations.