OREANDA-NEWS. On June 26, 2007 JSC “Polymetal” (LSE, MICEX, RTS: PTML) announced that Board of Directors made a decision to hold the Extraordinary General Meeting (EGM) in the form of absentee voting on July 31st, 2007, reported the press-centre of  JSC “Polymetal”.

The Board of Directors of Polymetal made a decision to call the EGM in the form of absentee voting and defined the date (voting cards acceptance expiration date) of EGM as July 31th, 2007.

The filled out and signed voting cards shall be delivered to the Company’s address 2 Prospect Narodnogo Opolchenya, Saint Petersburg, Russia.

The list of EGM participants is based on the list of Polymetal’s shareholders, at the end of trading on June 26th, 2007.

The Board of Directors approved the following agenda of the EGM:

1. To approve the major interested-party transaction — additional agreement to the contact of guarantee as of 27 December 2006 signed by Polymetal and ABN AMRO BANK N.V., London Branch and to include add-in and revisions.

2. To approve interested-party transactions — additional contribution to the share capital of Polymetal Trade House LLC.

3. To approve interested-party transactions — private offering of 125 000 000 ordinary shares of CJSC “Silver Territory”, totaling 500 000 000 rubles.

The transactions will be fulfilled to streamline the Company’s corporate structure and make it consistent with the current development strategy.

The shareholders will be provided with materials for the EGM by post not later than 20 days before the EGM date.