PLZL.L Regulatory News (PLZL)

30 May 2008 17:50



For immediate releaseMoscow, May 30, 2008

OJSC Polyus Gold Press Release

OJSC Polyus Gold (RTS, MICEX and LSE - PLZL) (the "Company"), Russia's leading gold producer notes the announcement by Onexim Holdings Limited that it has made an offer to acquire the 12,476,401 ordinary shares in Company held by the Company's wholly-owned subsidiary, Jenington International Inc. (representing approximately 6.54% of the total issued and outstanding ordinary shares of the Company) and confirms receipt of such offer.  The offer is stated to expire at 6 p.m. (Moscow time) on 6 June 2008. There can be no assurance as to whether the offer will be accepted, or on what terms.

Polyus Gold is the largest gold producer in Russia. Headquartered in Moscow, Polyus Gold's operating mines and development/exploration projects are located in five major gold mining regions of Russia - Krasnoyarsk, Irkutsk, Magadan, Amur regions and the Republic of Sakha (Yakutia). The company produced 1.2 m oz of gold in 2007.

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) 544-5496pr@polyusgold.com