PLZL.L Regulatory News (PLZL)

14 Aug 2007 14:42

OJSC Polyus Gold14 August 2007 For immediate release Moscow, August 14, 2007 Polyus Gold appoints Deputy General Director, operations. OJSC Polyus Gold (RTS, MICEX and LSE - PLZL), Russia's leading gold producer,today announced the appointment of Kirill Lykov as the Company's Deputy GeneralDirector, operations (Chief Operating Officer). Mr. Lykov previously worked inthe position of Director, assets administration at OJSC Power Machines. In his new role as Deputy General Director, Operations of Polyus Gold Mr. Lykovwill take care of all areas of the Group's day-to-day operations, whereasGeneral Director of the Company Pavel Skitovich will be focused on the strategicdevelopment of Polyus Gold. Commenting on the appointment, Pavel Skitovich said: "Polyus Gold's ambitiousstrategy demanded that we attract a highly qualified manager to deal with theGroup's day-to-day operating activities. Mr. Lykov's top priority will bestreamlining the current model of the company's management aiming at raising theefficiency of all the Group's business units". "I am happy to be given an opportunity to apply my managerial experience in oneof the leading mining company's in Russia, - Mr. Lykov said, - enhancing theefficiency of the company's day-to-day management will help Polyus Gold tosuccessfully achieve its ambitious goals and to become a Top-5 global goldproducer". Note for editors: Kirill A. Lykov Born on 16 December 1971 in Leningrad (today - St. Petersburg). In 1994graduated from St.Petersburg University of Economics and Finance. From 1994 to2000 works in various positions in banking and financial sectors. In 2000 joined OJSC Power Machines where he occupied increasingly seniorpositions: project manager of Corporate affairs department (2002), deputydirector, corporate affairs (2003 - 2004), director, corporate affairs ( 2004 02006). In 2006 he was appointed Director, assets administration of PowerMachines and worked in this position before he joined Polyus Gold. Polyus Gold Polyus Gold is the largest gold producer in Russia. In 2006 its gold outputtotaled 1.2 million ounces. Headquartered in Moscow, Polyus Gold's operatingmines and development/exploration projects are located in five major gold miningregions of Russia - Krasnoyarsk, Irkutsk, Magadan, Amur regions and the Republicof Sakha (Yakutia). For further information please contact Press serviceTel.: +7 (495) 641 33 77E-mail: pr@polyusgold.com This information is provided by RNS The company news service from the London Stock Exchange