OREANDA-NEWS. On May 28, 2008 The Board of Directors of MMC Norilsk Nickel ("The Company") at its meeting adopted a resolution to recommend to the Annual General Meeting of shareholders ("The AGM") to approve the amount of dividends payable upon the Company’s financial results for 2007 at the rate of RUB 220 (USD 9,34 ) per ordinary share, reported the press-centre of Norilsk Nickel.

The amount of dividends is in line with corporate dividend policy under which 20-25% of IFRS net income should be distributed in the form of dividends.

Taking into account the interim dividends already paid out for 9 months of 2007, the additional dividends for 2007 will amount to RUB 112 (USD 4,76) per ordinary share.

In accordance with Russian law the Company will pay the dividends within 60 days after the date of the shareholders’ approval.

For the editor:
The AGM will take place on June 30, 2008.

The Board established May 26, 2008 as a register closing date for the purposes of drawing up a list of shareholders eligible to participate in the AGM and, correspondingly, to draw dividends.

The Record Date for ADR holders, entitled to draw dividends shall be set by the depositary bank (The Bank of New York Mellon) agreed with stock exchanges (NASDAQ, LSE) and made available to the market in the near future, including the web site of the Company.