PLZL.L Regulatory News (PLZL)

16 Jan 2007 09:51

OJSC Polyus Gold16 January 2007 For immediate release Moscow, January 16, 2007 OJSC Polyus Gold signs agreement with MGIMO to conduct a research on gold price forecasting OJSC Polyus Gold, Russia's leading gold producer, and Moscow State Institute ofInternational Relations (MGIMO) of the Ministry of Foreign Affairs of Russiatoday announced the agreement to carry out a research on long-term forecastingof gold prices. According to the agreement, MGIMO will study gold price forecasts for the period1970 - 2005 made by various institutions and compare them with actual goldprices for the respective periods; the most accurate forecasts will be selectedand the methods applied will be analyzed. On the basis of the research results,MGIMO will suggest further steps to develop long term forecasting methodologies. Polyus Gold CEO Evgueni Ivanov said he is very pleased about cooperation withMGIMO, one of the most respected think tanks and universities in Russia.According to Mr. Ivanov, "the research will be prepared in course ofimplementation of Polyus Gold's long-term strategic development plan approved bythe Board, so the highly qualified analysis of gold prices would be demanded asa key element of decision making process". Notes for editors OJSC Polyus Gold was formed in March 2006 as a result of the spin-off of MMCNorilsk Nickel's gold mining assets. Polyus Gold is the leading gold producer inRussia. The group's asset portfolio includes gold deposits located inKrasnoyarsk, Irkutsk, Magadan, Yakutia and Amur regions of Russia. The companyproduced over 1 million ounces of gold in 2005. Moscow State Institute of International Relations (MGIMO) of the Ministry ofForeign Affairs of Russia is one of the most prestigious academies in Russia.Its alumni form Russia's intellectual, business and political elite. For further information please contact Denis Davydov Head of Investor and Public Relations Tel.: +7 (495) 641 33 65 E-mail: pr@polyusgold.com This information is provided by RNS The company news service from the London Stock Exchange