PLZL.L Regulatory News (PLZL)

6 Aug 2008 07:00



For immediate releaseMoscow, August 6, 2008

OJSC Polyus Gold notes press statements made by Onexim Group, a company controlled by Mr. Mikhail Prokhorov, Chairman of the Board of Directors of Polyus Gold, that it intends to sell a 16.66% equity stake in MMC Norilsk Nickel to companies controlled by Mr. Vladimir Potanin pursuant to an irrevocable offer made by Mr. Potanin for a total amount of US$10 billion, or US$315 per one share. The press statement notes that if the transaction is completed the payment would be effected in the form of cash (US$6.5 billion) and a 35.2% equity stake in OJSC Polyus Gold presently owned by Mr. Potanin's controlled interests (US$3.5 billion). According to the press statement, the transaction should close by 15 November 2008.

OJSC Polyus Gold has not received any further information about the transaction from either party. 

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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 IR

Evguenia V.Buydina, IR manager

+7(495) 641-3377

+7(495) 785-4031

ir@polyusgold.com

For press:

Victoria V. Vergelskaya, PR Director Elena D. Evstigneeva, Media Relations +7 (495) 641-3365 +7 (495) 544-5496

pr@polyusgold.com