OREANDA-NEWS. On October 29, 2008 OJSC MMC Norilsk Nickel (hereinafter - MMC Norilsk Nickel or the Company) has received execution documents evidencing that Arbitration Court of the Krasnoyarsk Region prohibited from performing the decision of the Board of Directors as of August 22, 2008 to buyback shares of MMC Norilsk Nickel, reported the press-centre of Norilsk Nickel.

Legal counsel to the Company is of the opinion that there is a basis to believe that such execution documents have not been properly served. The registrar of the Company, National Registry Company, has informed the Company today that it received analogous execution documents.

Under these circumstances the General Director Vladimir Strzhalkovsky made a decision to suspend any further action on the execution of contracts and payments to the shareholders in relation to the buyback of the Company's shares.