Chelyabinsk Zinc Plant Announces IFRS Results for 9 Months

Chelyabinsk Zinc Plant  announced its IFRS financial results for the nine months ended September 30, 2008.

9 months 2008 highlights

· Revenue for the nine months of 2008 totaled RUB 8,318 mln compared to RUB 11,646 for the same period last year.

· 9 months 2008 EBITDA amounted RUB 726 mln and was equivalent to 9% of revenue compared to an EBITDA of RUB 3,266 mln, equivalent of 28% of 9 months 2007 revenue.

· Net loss for the first nine months of 2008 was RUB 1,093 mln compared to RUB 1,782 mln profit for the nine months of 2007.

· 9 months 2008 net earnings have been affected by decrease of LME zinc prices, RUB 296 mln exploration and evaluation assets written off based on the results of the evaluation of the reserves for the Amur deposit and non-cash accounting adjustment of RUB 779 mln for goodwill.