OJSC MMC Norilsk Nickel notes announcement by Norilsk Nickel Investments Limited that NN Investments has completed settlements with respect to its previously announced offer to purchase up to 14,705,882 of the issued and outstanding shares of common stock of Norilsk Nickel, nominal value RUB 1 per share, including American Depositary Shares representing Common Shares of Norilsk Nickel at USD 306 per common share or USD 30.60 per ADS.

The offer commenced on September 28th 2011 and expired on October 28th 2011. NN Investments completed all payments for the Common Shares transferred to it under the share purchase agreements on December 7th 2011.

Common shares, including common shares represented by ADSs, that were purchased by NN Investments in the offer, constitute in the aggregate approximately 7.7% of the issued and outstanding share capital of Norilsk Nickel.

Prior to the expiration of the offer, Corbiere Holdings Limited, an indirect subsidiary of Norilsk Nickel, entered into repurchase transactions with international investment banks and financial institutions, pursuant to which it transferred title and voting rights with respect to common shares and ADSs representing approximately 7.4% of the issued and outstanding share capital of Norilsk Nickel.

After giving effect to these repurchase transactions and the acquisition of Common Shares and ADSs pursuant to the offer, direct and indirect subsidiaries of Norilsk Nickel hold in the aggregate approximately not more than 10 % of its issued and outstanding share capital.