PLZL.L Regulatory News (PLZL)

25 Mar 2008 12:52

OJSC Polyus Gold25 March 2008 For immediate release Moscow, March 25, 2008 RiskMetrics Report Recommends against Dismissal of Polyus Gold Board OJSC Polyus Gold (RTS, MICEX and LSE - PLZL), Russia's leading gold producer,today announced that RiskMetrics, the leading international proxy advisory firm,had released a series of recommendations in respect of Polyus Gold's forthcomingExtraordinary Meeting of Shareholders called by Interros. In the report, RiskMetrics recommends that institutional shareholders should: • Support the amendments to the company charter agreed by Polyus Board • Reject the early Termination of Powers of the current Board • If the Board was to be terminated, then to only support the election of Lord Patrick Gillford and Valery Braiko, Polyus Gold's existing independent directors Evgueni Ivanov, Chief Executive of Polyus Gold, said: "We welcome this independent report from the world's leading proxy advisoryfirm, in which they reject the early termination of Polyus Gold's Board, and weurge our shareholders to follow the recommendation of the Board when voting inour forthcoming EGM. We do not believe that dismissing the Board only two monthsahead of our Annual Shareholder's Meeting can be considered in any wayconstructive." - 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. 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