• IDGC of Centre in 2011
  • Limitation of liability
  • Address of the Chairman of the Board of Directors to Shareholders and Investors
  • Address of the General Director to Shareholders and Investors
  • Key Indicators
  • Key Events 2011
  • Events Occurring after the Reporting Date
  • About the Company
    • Market review, situation within the industry
    • Power transmission and technological connection market
    • Summary description of the Company
• Financial and Operating Results
  • Operating Results Review
    • Operating Results Review
    • Electric power transmission
    • Technological Connection
    • Other activities
    • Interaction with customers
  • RAS Financial Results Review
    • Profit and Loss Statement
    • Basic financial ratios
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  • IFRS Financial Results Review
• Development Strategy
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• To Shareholders and Investors
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    • Corporate Governance
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• Internal Control and Risk Management
  • The Internal Control System
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• Social Responsibility
  • Personnel
    • Manpower Policy
    • Personnel Structure
    • Training of Personnel
    • Skills Pool
    • Youth Outreach Concept
    • Social Policy
    • Organisation of health protection of the employees and improvement of occupational safety
  • Reliability and Emergency Forecast
  • Environmental Policy
• Mass Media and Investor Relations
  • Mass Media Relations
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• Appendixes
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    • Auditor’s opinion
    • The Balance Sheet
    • The Profit and Loss Statement
    • Statement of changes in equity
    • Cash flow statement
    • Appendixes to Balance Sheet and Profit and Loss Statement
    • Explanatory Note
    • Final Report of the Auditing Committee
  • Statements in accordance with IFRS
    • Independent Auditors’ Report
    • Consolidated Statement of Comprehensive Income for the year ended 31 December 2011
    • Consolidated Statement of Financial Position as at 31 December 2011
    • Consolidated Statement of Cash Flows for the year ended 31 December 2011
    • Consolidated Statement of Changes in Equity for the year ended 31 December 2011
    • Notes to the Consolidated Financial Statements for the year ended 31 December 2011
  • Explanation of separate indicators
    • Financial Results
    • Operating Results
    • Average Number of Staff
    • Investments
    • Property Complex
    • Participation in Other Organizations
  • Report on Interregional distribution grid company of centre jsc, compliance with the code of corporate governance
  • Information on Large Deals and Related Party Transactions Closed in 2011

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Notes to the Consolidated Financial Statements for the year ended 31 December 2011

1. Background	2. Basis of Preparation	3. Significant Accounting Policies
4. Determination of Fair Values	5. Subsidiaries	6. Operating Segments
7. Revenue	8. Operating Expenses	9. Personnel Costs
10. Finance Income and Costs	11. Income Tax Expense	12. Property, Plant and Equipment
13. Intangible Assets	14. Deferred Tax Assets and Liabilities	15. Investments and Financial Assets
16. Other Non-Current Assets	17. Cash and Cash Equivalents	18. Trade and Other Receivables
19. Inventories	20. Equity	21. Earnings Per Share
22. Loans and Borrowings	23. Finance Lease	24. Employee Benefits
25. Employee Payables	26. Trade and Other Payables	27. Other Taxes and Contribitions Payable
28. Financial Instruments and Risk Management	29. Operating Leases	30. Commitments
31. Contingencies	32. Related Party Transactions

General Director:

D.O. Gudzhoyan

Chief accountant:

M.V. Danilova

6 April 2012