December 03, 2008

UC RUSAL acquires 25% stake in Norilsk Nickel

UC RUSAL announced the completion of a transaction today whereby it acquired a 25% +1 share stake in OJSC MMC Norilsk Nickel.

Mr Denis Morozov general director of Norilsk Nickel commenting on this transaction said “On behalf of Norilsk Nickel’s management I would like to welcome UC RUSAL as a large shareholder in our Company. The acquisition of such a significant stake demonstrates once again the investment appeal and strong prospects for the further growth of Norilsk Nickel.”

Mr Denis Morozov said “The management of Norilsk Nickel continues its efforts to strengthen the Company’s leadership in the world mining and metals industry and ensure stability of its activities in the interests of our shareholders, employees and the regions where our operations are located.”

Norilsk Nickel’s development opportunities expanded considerably last year as a result of major overseas acquisitions and effective implementation of Brownfield and Greenfield projects in Russia. The market value of the Company, the largest public company in the Russian mining and metals industry, nearly doubled over the last year.