Sual Partners statement regarding decision of Rusal Board of Directors to elect new Chairman of the Board

Sual Partners, which owns 15.8% stake in UC Rusal, said today that the decision by the Board of Directors of UC Rusal to elect a new Chairman of the Board Barry Cheung was rushed and non-optimal from the standpoint of the long-term interests of the company.

"The company should have completed a full-fledged examination of candidates for the post of Chairman of the Board of Directors with the assistance of international consultants, - official spokesman of SUAL Partners Andrey Shtorkh said. - Moreover, our stated position remains that the Board of Directors of the company 80% of the assets of which are located in Russia, should be chaired by a Russian citizen, whose independence from any of the major shareholders of UC Rusal is beyond any doubt ".

Sual Partners Limited - shareholder of UC Rusal, representing the interests of the former owners of the "Siberian-Urals Aluminium Company" (Sual), Viktor Vekselberg, Leonard Blavatnik and their partners. To date, Sual Partners controls 15,8031% of UC Rusal.