Norilsk Nickel Statement regarding UC Rusal Anouncement

MMC Norilsk Nickel (the “Company”) notes the announcement by UC Rusal that it had rejected the Company's revised proposal to acquire a 20% interest in the Company from UC Rusal’s wholly-owned subsidiary, LLC United Company RUSAL Investment Management, for $12.8 billion. Under the terms of the proposal, US Rusal was required to accept the proposal or call a meeting of UC Rusal’s shareholder to consider it on or before the deadline of 6 pm Moscow time on March 4, 2011, or the proposal would lapse.

MMC Norilsk Nickel, a company incorporated under the laws of the Russian Federation, is the largest diversified mining and metals company in Russia, the world's largest producer of nickel and palladium and one of the world's largest producers of platinum, rhodium, copper and cobalt. In addition to this, MMC Norilsk Nickel produces a large number of other by-products, including gold, silver, tellurium, selenium, iridium and ruthenium.

The key production units of the Company’s group in Russia are at the Polar and Kola Peninsulas. MMC Norilsk Nickel international assets include operations in Finland, Australia, Botswana and South Africa.