Dear Colleagues:

We are pleased to announce that the Regulatory Authority for Energy of Greece (RAE) will be hosting the World Forum on Energy Regulation IV in coordination with the Council of European Energy Regulators (CEER) in October 2009 in Athens, Greece. The World Forum on Energy Regulation IV will build upon the themes and key findings of past forums.

With the involvement of the world’s regulatory associations, the next World Forum will continue to be of vital interest for emerging and developed countries. Regulators, government officials, industry representatives and other stakeholders will convene to discuss energy and regulatory developments and challenges. As U.S. FERC Chairman Joseph Kelliher noted during his remarks at the World Forum on Energy Regulation III, the Forum encourages regulators to be agents of change as markets are dynamic; hence, regulation must adapt while static policy is doomed to fail.

We look forward to your support of the World Forum on Energy Regulation IV and to seeing you in Athens in October 2009.

Sincerely, Michael Caramanis Chairman, RAE Host of World Forum IV

Sincerely, James Y. Kerr, II President, NARUC Host of World Forum III