OREANDA-NEWS. On August 01, 2008 “Polymetal” (LSE, MICEX, RTS: PMTL) (“Polymetal” or the “Company”) announced the receipt of notification that Vitaly Nesis, CEO and member of the Board of Directors of the Company, became owner of 2,000,000 ordinary shares of Polymetal, reported the press-centre of Polymetal.

This transaction occurred on July 24, 2008 as a result of pre-term vesting of the second and the third blocks of shares within Polymetal’s and its subsidiaries’ Employee Stock Program (“Stock Program”). The Stock Program participants received the right to purchase all of the shares due to them according to outstanding agreements ahead of schedule as a result of change of the controlling shareholder that happened in June 2008 (initially the second block was due to vest in February 2009, and the third block — in February 2010).

More than 300 employees involved into the Stock Program have the right to purchase the total of 5.5 million of the Company’s shares contributed by the controlling shareholder at a nominal price of 1 rouble (US0.04).