RUSAL launches ‘Save Norilsk Nickel’ website to promote its action plan to enhance value for all shareholders

RUSAL (SEHK: 486, EuroNext: RUSAL/RUAL), the world’s largest aluminium producer and owner of a 25% stake in MMC Norilsk Nickel (‘MMC’), today presents a detailed strategy aimed at increasing the value of Norilsk Nickel and protecting the interests of its all shareholders. The strategy is based on a detailed programme of change. To promote the programme, RUSAL is launching the ‘Save Norilsk Nickel’ website, which contains comprehensive information about the company's current situation and lists the actions needed for its improvement. This information resource will help shareholders to make the right decision to vote at the extraordinary meeting of shareholders of MMC to be held on 21 October 2010.

The website www.savenornickel.com (www.savenornickel.ru) focuses on how to protect the rights of the shareholders and the value of their company, how to create the conditions to maximize the company’s value and how to develop its full potential in the interest of Norilsk Nickel's shareholders, employees, the state and all stakeholders interested in its sustainable, long-term development. This is the key objective of the strategy proposed by RUSAL as one of Norilsk Nickel’s major shareholders. The strategy is presented in detail on the ‘Save Norilsk Nickel’ website.

All important issues related to the situation at Norilsk Nickel will be immediately posted on the ‘Save Norilsk Nickel’ website. The website outlines the shortcomings of the current management team, who lack experience in the metals and mining industry, informs users about RUSAL’s initiatives relating to both the EGM and to counter the use of the company in the interests of Interros and Norilsk Nickel’s management.

RUSAL believes that in the current situation when the management of Norilsk Nickel and Interros, acting together, are ready to go to great lengths to ensure that the company is under their full control, the only way to stop them is to bring together all the efforts of the company’s shareholders and to change the current balance in the Board of Directors.

‘We hope that by presenting the facts and figures that illustrate the inefficient use of resources by Norilsk Nickel’s management and its inability to ensure the dynamic development of the company, the failure to solve industrial, environmental and social issues, as well as evidence of gross violations of corporate governance best practice, we will be able to convince the shareholders to vote for the election of a new Board of Directors. We are convinced that all matters related to Norilsk Nickel's activities should be settled by professionals, independent both from RUSAL and from Interros. Therefore, we offer to expand significantly the presence of independent directors on the board. These people should be recognized experts in finance, the metals and mining industry and sales and marketing, drawn from Russia and overseas. Only then will the new management team, appointed by the Board of Directors, be able to act in the interests of all of the company’s shareholders,’ said Oleg Deripaska, CEO of RUSAL.