OREANDA-NEWS. June 18, 2008. MMC Norilsk Nickel (Norilsk Nickel or the Company) announced today that RiskMetrics/ISS Governance Services (RiskMetrics/ISS) had released its analysis and voting recommendations for the 30 June 2008 Annual  General Meeting of Norilsk Nickel shareholders (AGM).  RiskMetrics/ISS, the world’s leading independent corporate governance and proxy voting advisory service, provides voting recommendations to more than 1,700 major institutional funds, mutual funds and fiduciaries.

RiskMetrics/ISS recommended that Norilsk Nickel shareholders vote FOR all of the items on the AGM’s agenda. 

With respect to Item 3 of the AGM’s agenda – the election of Directors, RiskMetrics/ISS recommended that shareholders cumulate all of their votes for Independent Directors Guy de Selliers and Heinz C. Schimmelbusch and not vote for any other candidate.  Their analysis noted the “high importance” of electing independent directors to the Board and with respect to Messrs. De Selliers and Schimmelbusch stated that “because they are the most senior independent directors on the company's board, we believe that their experience will prove highly valuable through the course of ongoing changes at the company and its board of directors….” The Company’s Board of Directors had recommended to shareholders that they follow the RiskMetrics/ISS recommendations in voting their shares on Item 3.

RiskMetrics/ISS also recommended that Norilsk Nickel shareholders support all of the proposed Amendments to the Charter (Items 6.1-6.13) and the Adoption of the Regulations on the Board of Directors (Item 7).  The purpose of these items is to strengthen Norilsk Nickel’s corporate governance and to protect minority shareholder rights.

Denis S. Morozov, General Director of Norilsk Nickel, commented: “We are gratified that RiskMetrics/ISS, the leading voice in corporate governance, recognizes the vital role that independent directors serve at Norilsk Nickel in representing the best interests of the minority shareholders.  We are also pleased by their support of our continuing efforts to strengthen corporate governance and to protect minority shareholder rights through the amendments to the Charter and the Adoption of the Regulations on the Board of Directors.” 

Shareholders are encouraged to vote as soon as possible.  ADR holders should sign, date and return the proxy card in the envelope provided to them.  Ordinary shareholders should contact their proxy voting execution service or custodian to determine applicable voting deadlines to ensure that shareholders’ voting instructions are received in time to be validly cast at the AGM. 

Individual shareholders needing assistance in completing their proxy cards should contact Norilsk Nickel’s agent, Innisfree M&A Incorporated, at: toll-free 1-888-750-5834 in the United States or Canada; free phone 00 800 7710 9970 in Europe; or collect +1 412 232 3565 elsewhere.  Institutional holders should contact: Julie Selby +44 (0)20 7710 9960 in London or Arthur B. Crozier +1 212 750 5833 in New York.

Russian shareholders needing assistance in completing their ballots should contact

Norilsk Nickel’s Registrar CJSC National Registry Company: +7 (495) 440-6344,
+7 (495) 440-6345 or 6, ul. Veresayeva, Moscow 121357;
Norilsk Nickel’s Investor Relations Department: +7 (495) 786-8320.
All the materials for the AGM are disclosed at the following address of Norilsk Nickel web site: http://www.nornik.ru/en/investor/shareholder/meeting/30-06-08/