OREANDA-NEWS. September 12, 2007. The Board of Directors OJSC Polyus Gold (RTS, MICEX and LSE: PLZL) has resolved to convene the Extraordinary General Shareholders’ Meeting (hereinafter – Meeting) on October 26, 2007.

The record date is September 14, 2007.

The Meeting will be held in the form of absentee voting. All holders of ordinary shares, included into the list of persons entitled to participate in the Meeting, will receive voting ballots which have to completed and sent to the addresses indicated in the voting ballot by October 26, 2007.

The Meeting’s agenda is as follows:
1. Remuneration and reimbursement of the expenses of independent directors - members of the Board of Directors OJSC Polyus Gold.
2. Determination of the value of Directors’ and Officers’ liability insurance for members of the Board of Directors OJSC Polyus Gold.
3. Approval of the related party transaction on Directors’ and Officers’ liability insurance for members of the Board of Directors OJSC Polyus Gold.
4. Determination of the value of assets being the subject matter of the Indemnification Agreements with members of the Board of Directors OJSC Polyus Gold.
5. Approval of the Indemnification Agreements with members of the Board of Directors OJSC Polyus Gold as interrelated related party transactions.

Information on the agenda items will be disclosed on September 21, 2007, on the Company’s web-site (www.polyusgold.com) under / Investor Relations / Corporate Governance / General shareholders meetings, and also could be obtained by the shareholders at the addresses stated in the Meeting’s Notification.

In order to participate in the Meeting the ADR holders shall complete the proxy cards and timely submit them to the Depositary bank – The Bank of New York Mellon.