Moscow, 28 February 2011

On 27 February 2011 the court in Nevis discharged the injunction obtained by RUSAL on 3 February 2011.

Originally, the hearing was set for 2 March 2011 before the judge who granted the injunction on 3 February 2011.

However, without explanation or proper notice, Judge Edward Bannister, who normally sits in the BVI, was flown in to Nevis on February 24th to substitute for the regular Nevis judge without proper notice to RUSAL and in highly unusual circumstances.

Unusually, Judge Bannister held the hearing on February 25, 26 and 27 which is Friday, Saturday and Sunday. The formal notice of the hearing was received by RUSAL's lawyer in Nevis via email at 8.52 PM on February 24th. The hearing commenced at 9 am on February 25th without RUSAL's leading counsel present because leading counsel could not physically arrive to Nevis from London in time for this court hearing, due to the short notice.

RUSAL's lawyer in Nevis had to stand in court by himself Friday and Saturday without leading counsel present.

RUSAL is particularly concerned about the highly unusual manner in which this matter proceeded. RUSAL will consider all lawful avenues available to it, including appeal, once a written decision is handed down by Judge Bannister. 

RUSAL wishes to make it clear that it will press forward with its substantive case in the Nevis court which is still pending. This case includes a claim for conspiracy to cause harm to RUSAL and a claim for procurement for a breach of contract.

RUSAL remains of the view that Corbiere and Raleigh should not be entitled to vote their shares in Norilsk as this will further the attempts by Norilsk's management and Interros to gain greater control over Norilsk to the detriment of all of its shareholders.

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, 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), 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), and Russian depositary receipts that are issued on common shares of the Company are listed on MICEX (RUALR) and RTS (RUAL) stock exchanges.

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.