OREANDA-NEWS. On February 20, 2008 MMC Norilsk Nickel (Norilsk, the Company) noted press reports and confirmed  that on February 19th it received a preliminary enquiry from an investment bank regarding the concept of a transaction between the Company and a third party.

Norilsk would like to stress that at this time it has not had any contact nor proposal from the party referred to in the letter.  The Board of Directors has requested management to investigate the substance of this enquiry.

The Company generally does not comment on press matters relating to such preliminary enquiries and therefore will have no further comment at this time.