Norilsk Nickel is pleased to announce that today international rating agency Fitch Ratings (hereinafter Fitch) confirmed the Companys investment grade credit rating at the level of ’BBB-’ .The Outlook changed from negative to stable.

According to Fitch the Outlook change reflects increase in metals pricing, further strengthening of Companys liquidity profile, and the agencys confidence that Norilsk Nickel will be able to refinance its debt maturities due in 2010. Fitch also expects the Company to maintain a conservative stance in terms of costs policy and remain cash flow positive during 2010.