PLZL.L Regulatory News (PLZL)

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May 20, 2011

OJSC Polyus Gold (RTS, MICEX and LSE - PLZL), Russia's leading gold producer, today announced preliminary results of the Annual general shareholders meeting (AGM) that was held in Moscow on 20 May, 2011.

In accordance with the preliminary results, the following resolutions have been passed by the AGM:

·; Approval of the 2010 Annual report of OJSC Polyus Gold, the 2010 RAS financial statements of OJSC Polyus Gold, including Profit and Loss statement.

·; Distribution of profits and losses of OJSC Polyus Gold for 2010, including dividend payment on shares in OJSC Polyus Gold for 2010. It was resolved to declare dividends upon the 2010 financial results of OJSC Polyus Gold at the rate of RUR 19.77 per ordinary share of OJSC Polyus Gold. Considering the effected interim dividend payment upon the results of 6 months of 2010 in the amount of RUR 8.52 per ordinary share, to effect the final payment in the amount of RUR 11.25 per ordinary share of OJSC Polyus Gold.

·; Election of the members of the Board of Directors of OJSC Polyus Gold.

·; Election of the members of the Audit Commission of OJSC Polyus Gold.

·; Approval of the RAS auditor of OJSC Polyus Gold - Rosexpertiza LLC.

·; Approval of the principal terms of Directors' and Officers' liability insurance for OJSC Polyus Gold.

·; Approval of remuneration and reimbursement of expenses of the members of the Board of Directors of OJSC Polyus Gold.

In accordance with the preliminary results, the AGM elected the Board of Directors of OJSC Polyus Gold consisting of the following members: Mikhail Prokhorov, Zumrud Rustamova, Anna Kolonchina, Pavel Grachev, Alexander Мosionzhik, Ekaterina Salnikova, Evgeny Ivanov, Maxim Finskiy, The Earl of Clanwilliam

The results of the Annual meeting will be finalized and published as stipulated for by the Federal law "On Joint-Stock Companies".

OJSC Polyus Gold is Russia's leading gold producer and one of the world's largest gold mining companies in terms of market capitalization, mineral reserves base and output. The Company's asset portfolio includes hard-rock and alluvial deposits in the Krasnoyarsk, Irkutsk, Magadan and Amur Regions, the Republic of Sakha (Yakutia). The company produced 1,4 m oz of gold in 2010.

For further information please contact:

For investors:Alexey V. Chernushkin, Director, CM and IREvguenia V.Buydina, IR manager+7 (495) 641-3377+7 (495) 785-4031 ir@polyusgold.com

For media:

Anton A. Arens, PR Director+7 (495) 641-3365+7 (495) 544-5496pr@polyusgold.com