On February 17, 2006MMC Norilsk Nickel (the Company) held anExtraordinary General Meeting ofshareholders (EGM). Pursuant tothe decision ofthe Board ofDirectors dated December 16, 2006the agenda ofthe EGM was asfollows:

• Decrease inthe MMC Norilsk Nickels charter capital through the redemption ofshares that were purchased and bought-back bythe Company;
• Amendments tothe Charter ofMMC Norilsk Nickel;
• Amendments tothe Regulations onthe Board ofDirectors ofMMC Norilsk Nickel.

The shareholders voted for onall items ofthe agenda inaccordance with the recommendations ofthe Board ofDirectors. Thus the charter capital ofMMC Norilsk Nickel isto bedecreased by23278 137shares and reach 190627 747ordinary shares with nominal value of1Rouble per share.

The Companys charter capital isto bereduced by23278 137shares through the redemption of:

— 12478 704shares that had been purchased bythe Company inDecember, 2004- February, 2005pursuant tothe Board ofDirectors decision ofDecember 2, 2004; and

— 10799 433shares that had been bought back byMMC Norilsk Nickel following the reorganization ofthe Company inthe form ofspin-off inNovember December, 2005.