OREANDA-NEWS. August 14, 2007. OJSC Polyus Gold (RTS, MICEX and LSE – PLZL), Russia’s leading gold producer, today announced the appointment of Kirill Lykov as the Company’s Deputy General Director for Operations (Chief Operating Officer). Mr. Lykov previously worked in the position of Director, assets administration at OJSC Power Machines.

In his new role as Deputy General Director, Operations of Polyus Gold Mr. Lykov will take care of all areas of the Group’s day-to-day operations, whereas General Director of the Company Pavel Skitovich will be focused on the strategic development of Polyus Gold.

Commenting on the appointment, Pavel Skitovich said: “Polyus Gold’s ambitious strategy demanded that we attract a highly qualified manager to deal with the Group’s day-to-day operating activities. Mr. Lykov’s top priority will be streamlining the current model of the company’s management aiming at raising the efficiency of all the Group’s business units”.

“I am happy to be given an opportunity to apply my managerial experience in one of the leading mining company’s in Russia, - Mr. Lykov said, - enhancing the efficiency of the company’s day-to-day management will help Polyus Gold to successfully achieve its ambitious goals and to become a Top-5 global gold producer”.

Kirill A. Lykov

Born on 16 December 1971 in Leningrad (now St. Petersburg).

In 1994 graduated from St.Petersburg University of Economics and Finance.

From 1994 to 2000 worked in various positions in banking and financial sectors.

In 2000 joined OJSC Power Machines WHERE he occupied increasingly senior positions: project manager of Corporate affairs department (2002), deputy director, corporate affairs (2003 – 2004), director, corporate affairs ( 2004 0 2006).

In 2006 he was appointed Director, assets administration of Power Machines and worked in this position before he joined Polyus Gold.