In respect of RUSALs statements through the public media we find it necessary to convey the following:

Interros is satisfied with the results of the Annual General Meeting of shareholders of MMC Norilsk Nickel. The meeting was conducted in strict conformity with the requirements of the law and statutory norms of the Company. In this regard Interros does not see any justification for the termination of the elected Board of Directors and revision of the outcome of the meeting of the shareholders. The recently unleashed campaign to discredit Norilsk Nickel and its shareholders is totally unacceptable.

RUSAL has been pursuing a deliberate destructive policy towards Norilsk Nickel. At the meeting of the Board of Directors representatives of RUSAL have voted against the 2010 budget and subsequently demanded dividend payment which exceeded the net profit of the company and was at variance with the covenants of the credit agreements of Norilsk Nickel. Obviously, RUSAL attempts to solve its debt problems at the expense of the balance sheet of Norilsk Nickel.

RUSALs request to elect new independent Directors to the Board of Directors of the company was made immediately after independent Directors elected by minority shareholders spoke against the merger of RUSAL and Norilsk Nickel and approved the results of the recent meeting of the shareholders. Interros, for its part, will continue to support the rights of minority shareholders to elect its representatives to the Board of Directors of the Company. We believe independent Directors Bradford Mills and Gerard Holden perform their function and act solely in the interests of Norilsk Nickel.

RUSAL imposes upon Norilsk Nickel its activist role in the operational management of the Company, makes ungrounded appeals to the state authorities and solicits Government support to the detriment of the interests of other shareholders.

In the current situation around Norilsk Nickel destructive action by RUSAL contradicts the interest of other shareholders and the level of RUSALs participation in the management of the Company should be commensurate with and limited to the size of its minority shareholding.