The results of the annual general meeting of Norilsk Nickel that was held on 28 June, particularly the outcome of the elections to the Board of Directors, breached corporate governance procedures, the principles of transparency and the observance of the interests of all shareholders. To reverse these shortcomings and ensure the interests of all shareholders are protected, RUSAL intends to convene an extraordinary general meeting and will submit the relevant request by 20 July. The EGM will therefore take place, in accordance with the relevant legislation, in October 2010 after the end of the summer holiday period, so that the majority of shareholders will be able to participate.

RUSAL’s request to convene an EGM aims at restoring the balance of interests of all shareholders, which will lead to improved efficiency of the management of MMC Norilsk Nickel and increased shareholder value. We expect that this initiative will be supported by Interros, which has agreed with RUSAL to cooperate in respect to MMC Norilsk Nickel.

In addition, RUSAL has written to Norilsk Nickel to formally request that Norilsk Nickel provides, in accordance with the legislation, the actual voting papers from the annual general meeting elections. RUSAL intends to undertake a rigorous inspection of the ballots and, if necessary, will call upon independent experts to examine the papers. If this exercise reveals violations, RUSAL intends to file a lawsuit to uphold its interests as a shareholder.

About RUSAL

UC RUSAL (www.rusal.com) is the world’s largest producer of aluminium, in 2009 accounting for approximately 10% and 10% of global production of aluminium and alumina, respectively. UC RUSAL employs about 76,000 people in 19 countries, across 5 continents. UC RUSAL markets and sells its products primarily in the European, Japanese, Korean, South East Asian and North American markets. UC RUSAL’s ordinary shares are listed on The Stock Exchange of Hong Kong Limited (Stock code: 486) and global depositary shares representing UC RUSAL’s ordinary shares are listed on the professional compartment of Euronext Paris (RUSAL for Reg S GDSs and RUAL for Rule 144A GDSs).

Disclaimer

The information contained in this press release is for media advice only. The contents are true and accurate at the time of publishing, however, may change over time.