OREANDA-NEWS. On November 11, 2008  JSC “Polymetal” (LSE, MICEX, RTS: PMTL) (“Polymetal” or the “Company”) came to notice that the holding of MBC Development Limited increased to 17,486,362 ordinary shares of Polymetal which represents 5.55% of the total share capital of the Company, reported the press-centre of Polymetal.

MBC Development Limited is a company controlled by Alexandr Mosionzhik, who served as a Chairman of the Company’s Board of Directors from November 2005 till September 2008.

Total share capital of Polymetal consists of 315,000,000 ordinary shares, part of which is held in the form of GDRs.