Alrosa offer

5 Jun 2008 18:05



For immediate releaseMoscow, June 05, 2008

OJSC Polyus Gold Press Release 

OJSC Polyus Gold (RTS, MICEX and LSE - PLZL)(the "Company"), Russia's leading gold producer, announced that it had received an offer from Alrosa Company Limited to acquire, for a price stated to be equal to "a fair price," 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). The offer is stated to expire at 18-00 Moscow time on June 6. There can be no assurance as to whether the offer will be accepted, or on what terms.

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

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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.