News

OJSC Polyus Gold (RTS, MICEX and LSE - PLZL), Russia’s leading gold producer, today announced that RiskMetrics, the leading international proxy advisory firm, had released a series of recommendations in respect of Polyus Gold’s forthcoming Extraordinary Meeting of Shareholders called by Interros.

In the report, RiskMetrics recommends that institutional shareholders should:

• Support  the amendments to the company charter agreed by Polyus Board
• Reject the early Termination of Powers of the current Board
• If the Board was to be terminated, then to only support the election of Lord Patrick Gillford and Valery Braiko, Polyus Gold’s existing independent directors

Evgueni Ivanov, Chief Executive of Polyus Gold, said:

“We welcome this independent report from the world’s leading proxy advisory firm, in which they reject the early termination of Polyus Gold's Board, and we urge our shareholders to follow the recommendation of the Board when voting in our forthcoming EGM. We do not believe that dismissing the Board only two months ahead of our Annual Shareholder’s Meeting can be considered in any way constructive.”

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Polyus Gold is the largest gold producer in Russia. Headquartered in Moscow, Polyus Gold’s operating mines and development/exploration projects are located in five major gold mining regions of Russia - Krasnoyarsk, Irkutsk, Magadan, Amur regions and the Republic of Sakha (Yakutia). The company produced 1.2 m oz of gold in 2007.

For further information please contact
For investors:
Alexey V. Chernushkin, Director, CM and IR
Evguenia V.Buydina, IR manager
+7(495) 641-3377
+7(495) 785-4031
ir@polyusgold.com

For press:
Victoria V. Vergelskaya, PR Director
Elena D. Evstigneeva, Media Relations
+7 (495) 641-3365
+7 (495) 544-5496
pr@polyusgold.com