OREANDA-NEWS. On September 03, 2008 JSC “Polymetal” (LSE, MICEX, RTS: PMTL) (“Polymetal” or the “Company”) announced that Extraordinary General Meeting of Shareholders of the Company (“EGM”) was considered void due to the absence of a quorum, reported the press-centre of Polymetal.

Agenda of the EGM was the following:

1. To approve procedure of the EGM.

2. To terminate the authorities of the members of the Board of Directors prior to expiration of their respective terms.

3. To elect the members of the Board of Directors.

The Company would like to remind that the next EGM convened on July 7, 2008 by request of a shareholder who owns more than 10% of voting shares of the Company, and who offered to increase the numerical composition of the Board to 9 people (the current Board consists of 7 people), will begin on Thursday, September 25, 2008, at 10:00am Moscow time, in Polymetal’s headquarters at the following address: prospect Narodnogo Opolcheniya 2, 198216, St. Petersburg, Russia.

Information to be provided to eligible EGM participants will be available in the Company’s headquarters (room 1112) at the above address from 10am till 5pm Moscow time every day, except weekends, from September 5, 2008.