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Norilsk Nickel Group summarizes the results ofits mandatory offer toOGK-3 shareholders

On 18July 2007, the period expired when the shareholders ofOpen Joint Stock Company The Third Generation Company ofthe Wholesale Electricity Market (hereafter OGK-3) could accept the mandatory tender offer made byOpen Joint Stock Company Norilsk Zavenyagina Mining and Metallurgical Works (hereafter Norilsk Metallurgical Works), acompany ofthe Norilsk Nickel Group, totender their shares inOGK-3.

On 2May 2007, Norilsk Metallurgical Works, inaccordance with Federal Law OnJoint-Stock Companies, made the mandatory tender offer for shares ofOGK-3 atthe price of4.54Rubles per share. The period oftime when the mandatory tender offer could beaccepted byOGK-3 shareholders was 77days from receipt ofthis offer byOGK-3.

Totally 305notices ofsale ofOGK-3 shares were received within the mandatory offer acceptance period, with 12,760,240,297shares totally tendered for the amount of57,931,490,948.38Rubles.

To complete the sale ofshares under this mandatory offer, OGK-3 shareholders who have accepted the mandatory offer should transfer their shares tothe account ofNorilsk Metallurgical Works within 18days from the date ofexpiration ofthe period allowed for acceptance ofthis mandatory tender offer (before 6August 2007).

The shares under acquisition will bepaid for within 15days after their registration onthe account ofNorilsk Metallurgical Works.

Full information onthe mandatory offer isavailable onthe corporate web site atthe following address: