OREANDA-NEWS. In line with the Company’s general mission to increase shareholder value, and taking into consideration good financial performance the Board of Directors of MMC Norilsk Nickel made decision to buy back own outstanding shares.

On 5 October 2006, based on the Group’s financial performance, the Board of Directors proposed to the Extraordinary General Meeting of Shareholders, scheduled for 24 November 2006, to approve the interim dividends for 9 months 2006 in the amount of RUR 56 per ordinary share or RUR 10.7 billion. Record date is October 5, 2006.

The own outstanding ordinary shares with par value 1 RUR each will be bought back by the Company at the 3-month average market price, which is 3,510 RUR per one ordinary share.

The authorized capital of the company is divided into approximately 190 million shares.

The last buyout of shares Norilsk Nickel carried out in the end of 2005 by 5.1% for the amount of approximately $700 million.

On results of 2005, Norilsk Nickel paid 96.49 roubles per share, or approximately $690 million as dividends.