PLZL.L Regulatory News (PLZL)

27 Mar 2008 12:02

OJSC Polyus Gold27 March 2008 For immediate release Moscow, March 27, 2008 Glass Lewis supports Polyus Board voting recommendations for EGM on April 7,2008. OJSC Polyus Gold (RTS, MICEX and LSE - PLZL), Russia's leading gold producer,today announced that Glass Lewis, a leading international proxy advisory firm,had issued a report in respect of the forthcoming Extraordinary GeneralShareholders Meeting (EGM) to be held on April 7, 2008. Glass Lewis report followed that of RiskMetrics, another leading independentconsultant, that was issued on March 25, 2008. The recommendations given byGlass Lewis are almost identical to those of RiskMetrics and exactly match thosegiven by Polyus Board. In its report, Glass Lewis recommends that shareholders: • Support the amendments to the company charter• Reject the early Termination of Powers of the current Board• If the Board was to be terminated, then only re-elect the existing Board. Evgueni Ivanov, Chief Executive of Polyus Gold, said: "We are pleased that two leading proxy advisory firms have formed similarrecommendations in respect of Polyus Gold's forthcoming EGM, and that they aresupportive of the position of Polyus' Board. One again, we urge our shareholdersto follow the Board's recommendations when voting in the upcoming EGM". - Ends - Polyus Gold is the largest gold producer in Russia. Headquartered in Moscow,Polyus Gold's operating mines and development/exploration projects are locatedin five major gold mining regions of Russia - Krasnoyarsk, Irkutsk, Magadan,Amur regions and the Republic of Sakha (Yakutia). The company produced 1.2 m ozof gold in 2007. Founded in 2003, Glass, Lewis & Co., LLC is a leading research and professionalservices firm that assists institutions globally that have investment, financialor reputational exposure to public companies. The firm provides research andanalysis on more than 13,000 public companies based in 65 countries around theworld. Glass Lewis' proxy analysis and recommendation research is used by manyof the world's leading institutional investors. For further information please contact For investors: Alexey V. Chernushkin, Director, CM and IREvguenia V.Buydina, IR manager+7(495) 641-3377+7(495) 785-4031ir@polyusgold.com For press: Victoria V. Vergelskaya, PR DirectorElena D. Evstigneeva, Media Relations+7 (495) 641-3365+7 (495) 544-5496 pr@polyusgold.com This information is provided by RNS The company news service from the London Stock Exchange