Moscow, 8 February 2011 – In relation to the press-release distributed yesterday by Corbiere Holdings Limited (“Corbiere”) on the decision of the High Court of Justice of St. Christopher & Nevis RUSAL  considers it necessary to state the following. 

As it was announced yesterday, RUSAL had obtained an interim order in the Nevis courts restraining Corbiere and Raleigh, which are both subsidiaries of MMC Norilsk Nickel, from voting quasi-treasury shares of Norilsk Nickel and prohibiting them from transferring or disposing of such shares.
 
Yesterday Corbiere made a public statement that allegedly the Nevis order prohibits it from taking action to complete the buyback of Common Shares and ADRs of Norilsk Nickel pursuant to the Offer Memorandum of December 29, 2010. Corbiere’s announcement misconstrues the terms and scope of the Nevis order. The Nevis order does not prohibit Corbiere from completing the buyback, completion of which had been publicly announced by Corbiere on January 24, 2011. This was placed in evidence before the Nevis court. 
 
RUSAL has today written to Corbiere to make the position clear.

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 sells its products primarily in the European, Japanese, Korean, Chinese, 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 board 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.