Extraordinary General meeting convened

For immediate release Moscow, July 19, 2010

OJSC Polyus Gold announces the decisions taken at the Board of Directors meeting on July 19, 2010.

A Board of Directors meeting of OJSC "Polyus Gold Cold" (RTS, MICEX and LSE - PLZL) took place on July 19th.

The Board of Directors convened an extraordinary General shareholders' meeting of OJSC Polyus Gold for 24 August 2010. The Record date for the EGM is July 19, 2010.

The Board of Directors recommends that the dividends be declared upon the results of the 6 months of 2010, at the rate of 8.52 rubles per ordinary share in OJSC Polyus Gold; and that the dividends be paid off within 60 days of the date of the shareholders' resolution.

The total amount to be paid to Polyus Gold shareholders constitutes 1,624 billion rubles.

OJSC Polyus Gold is an international company, 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 international asset portfolio includes ore and alluvial deposits in the Krasnoyarsk Territory, the Irkutsk, Magadan and Amur Regions, the Republic of Sakha (Yakutia), as well as in the Republic of Kazakhstan and Romania. Gold production of OJSC Polyus Gold totaled 1,3 k oz in 2009.

For further information please contact: Anton A. Arens, PR Director +7 (495) 641-3365 +7 (495) 544-5496pr@polyusgold.com 

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