Unrivalled openness of MMC Norilsk Nickel in information disclosure

The expert council of the annual contest among Russian companies – stock market participants has rated MMC Norilsk Nickel (the Company) the first in the categories The Best Annual Report and The Best Corporate Website.

The Best Annual Reports contest was organized by Expert Rating Agency in association with Moscow Interbank Currency Exchange and with the support of the auditing company PricewaterhouseCoopers. It has been held for 9 years in a row. The expert council has reviewed 157 annual reports of companies with aggregate capitalization exceeding 50% of the Russian stock market.

According to the Director for Investor Relations of MMC Norilsk Nickel Dmitry Usanov, the Company consistently strives to enhance transparency and quality of information in its statements and reports.

“Norilsk Nickel has never approached annual reporting in a formal manner. We do not regard annual reports as a legal obligation but rather as one more opportunity to inform the investors’ community on key financial and operational results of the Company in the reporting year, its development strategy, plans, market position and other major aspects of its performance. In the course of annual report drafting, we analyze and adapt the best world’s practices taking into consideration recommendations and requests of our readers, said Mr. Usanov.

Not once has MMC Norilsk Nickel’s annual report become the prizewinner in specialized professional contests. The Company’s 2005 annual report was recognized an absolute winner of the federal contest of annual reports and websites held by MICEX Stock Exchange and Securities Market Journal. Moreover, the English version of this final corporate reporting document was recognized the best in the category Information Disclosure and Transparency.

2005 Annual Report was also highly appreciated by RTS experts, who have rated it the first in a special category The Best Annual Report of Issuers Listed at the RTS Stock Exchange.