OREANDA-NEWS. July 19, 2007.  The period expired when the shareholders of Open Joint Stock Company The Third Generation Company of the Wholesale Electricity Market (hereafter – OGK-3) could accept the mandatory tender offer made by Open Joint Stock Company Norilsk Zavenyagina Mining and Metallurgical Works (hereafter – Norilsk Metallurgical Works), a company of the Norilsk Nickel Group, to tender their shares in OGK-3.

On 2 May 2007, Norilsk Metallurgical Works, in accordance with Federal Law On Joint-Stock Companies, made the mandatory tender offer for shares of OGK-3 at the price of 4.54 Rubles per share. The period of time when the mandatory tender offer could be accepted by OGK-3 shareholders was 77 days from receipt of this offer by OGK-3.

Totally 305 notices of sale of OGK-3 shares were received within the mandatory offer acceptance period, with 12,760,240,297 shares totally tendered for the amount of 57,931,490,948.38 Rubles.

To complete the sale of shares under this mandatory offer, OGK-3 shareholders who have accepted the mandatory offer should transfer their shares to the account of Norilsk Metallurgical Works within 18 days from the date of expiration of the period allowed for acceptance of this mandatory tender offer (before 6 August 2007).

The shares under acquisition will be paid for within 15 days after their registration on the account of Norilsk Metallurgical Works.

Full information on the mandatory offer is available on the corporate web site at the following address: http://www.nornik.ru/en/investor/fgc/