MMC Norilsk Nickel announces results of share buy-back

MMC Norilsk Nickel announces the results of its share buy-back program executed pursuant to the Board of Directors’ decision made on August 22, 2008. The maximum amount of shares eligible for the buy-back amounted to 7 947 000 (about 4% of all outstanding shares).

The buy-back was carried out on the pro rata basis, at the purchase price of RUB 6,167 per share. All shareholders could exercise their rights to participate in the procedure, including for the first time ever, holders of American Depository Receipts (ADR).

The shareholders’ tender applications were accepted in the period from September 29 to October 28, 2008, and the purchase of shares was launched on October 29, 2008 and continued from December 12, 2008 till January 13, 2009.

The Company repurchased 7 853 807 shares worth RUB 48 434 427 769. These shares will be recorded on the Company’s balance sheet in accordance with the Russian legislation.