PLZL.L Regulatory News (PLZL)

16 Oct 2007 13:43

OJSC Polyus Gold16 October 2007 For immediate release Moscow, 16 October 2007 Polyus Gold announces decisions taken by the Board of Directors on October 16,2007. At a meeting of the Board of Directors of OJSC Polyus Gold (RTS, MICEX and LSE -PLZL), held earlier today, a decision was taken to re-elect Mikhail Prokhorov asChairman of the Board. The Board also took a decision to terminate the positionof Pavel Skitovich as chief executive and re-instate Evgueni Ivanov, as GeneralDirector. Commenting the new appointments Chairman of the Board of Polyus Gold MikhailProkhorov said: "I am convinced that Polyus Gold has huge development potential.To ensure that this potential is fully and efficiently realized, I have agreedto head up once again the company's Board of Directors". The newly elected General Director Evgueni Ivanov noted: "I am pleased that theBoard has demonstrated its confidence in me, and I relish the opportunity ofcontributing my dynamic energy to the company's operations once more. PolyusGold's unique competitive advantages, when employed effectively, will, I amsure, guarantee successful achievement of our impressive production andfinancial growth targets." The investor conference call scheduled for 17:00hrs (Moscow time) today willproceed as planned. Note for editors: Mikhail Prokhorov Born in 1965. In 1989 Mr. Prokhorov graduated with honors from the Moscow Financial Institute(Financial Academy under the Government of the Russian Federation). From 1989 to 1992 - worked at International Bank for Economic Cooperation; from1992 to 1993 - head of the Management Board of joint-stock bank InternationalFinancial Company. In 1993 he became Chairman of the Management Board of Unexim bank. From 1998 to2000 - President, chairman of the Management Board of Unexim bank. From 2000 to2001 - President of OJSC AKB ROSBANK. From July 2001 to March 2007 - GeneralDirector and Chairman of the Management Board, Member of the Board of MMCNorilsk Nickel. From 2006 to June 2007 - Chairman of the Board of Polyus Gold.Since May 2007 - President of ONEXIM Group. Evgueni Ivanov Born in 1966.In 1990 graduated from the State Finance Academy. Major - International EconomicRelations.After the graduation he worked in the banking sector, including the State Bankof the USSR, and the Central Bank of the Russian Federation.In 1997 he came to work in Unexim Bank, where he created and headed the PreciousMetals Division.In 1999 - 2000 he worked as Vice-Chairman of the Rosbank, being in charge of therelationship with the clients.In 2000 Evgueni Ivanov became the Chairman of Rosbank, and in the 2003 - thebank's President and Chairman of the Board.In 2004-2007 served as President of CJSC Polyus.In 2006-2007 served as General Director of OJSC Polyus Gold. Polyus Gold is the largest gold producer in Russia and the fourth largest goldmining company in the world by indication of reserves. In 2006 its gold outputtotalled 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 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