Norilsk Nickel to sell ADR Trafigura

The sale further strengthens the relationship between Norilsk Nickel and Trafigura. Trafigura is the world's largest independent oil trader and the second largest independent trader of non-ferrous metals. The sale has allowed Norilsk Nickel to realize a substantial gain on investments in Norilsk Nickel securities. The proceeds from the sale will be used for general corporate purposes.

Norilsk Nickel understands that Trafigura has no current plans to increase its stake in the Company to over 10% of Norilsk Nickel's share capital, which would require an application for approval under the Russian Strategic Investment Law. In connection with the sale, Trafigura entered into a lock-up pursuant to which it undertook not to sell the Norilsk Nickel ADRs acquired in the transaction to a non-affiliated third party until after June 30, 2011.