The meeting of the Board of Directors of MMC Norilsk Nickel in absentia was held on September 21st 2011. By the majority of votes the board of directors approved of the acquisition of the company's ordinary registered non documentary shares and or ADRs by Norilsk Nickel Investments Limited by announcing a public offer. The date of applications submission shall be determined further on.

On September 13th 2011, the board of directors approved of the offer terms. The offer envisages the acquisition of up to 14,705,882 MMC Norilsk Nickel’s ordinary registered non documentary shares, representing 7.71% of the company' authorized capital.

The price of shares and or ADRs to be purchased from shareholders shall be USD 306 per ordinary registered non-documentary share and USD 30.6 per ADR. Up to USD 4.5 billion may be spent for the purposes of acquisition.

The offer serves the interests of further growth of the Company’s capitalization and complies with the best corporate governance practices.