OREANDA-NEWS. On August 20, 2009 JSC “Polymetal” (LSE, MICEX, RTS: PMTL) (“Polymetal” or the “Company”) announced that a meeting of the Board of directors of the Company (the “Board”) held on August 19, 2009 in the form of absentee voting made a decision to hold an Extraordinary General Meeting (“EGM”) of Polymetal’s shareholders in the form of “absentee voting” on September 25, 2009, reported the press-centre of Polymetal.

The Board approved the form and text of the voting bulletins and set September 25, 2009 as the last date when voting bulletins shall be accepted. Completed and signed voting bulletins should be sent to the following address: OAO “Registrator R.O.S.T.”, P.O. Box 9, Stromynka Street 18/13, Moscow, 107996, Russia.

The Board approved the following agenda of the EGM:

To approve an interested party transaction (being the placement of additional shares in the Company to JSC “Polymetal Management”).

The Board has fixed August 20, 2009 as the record date for determining shareholders eligible for participating in the EGM.

The Board also approved the written information (specifically a draft of the proposed voting bulletin) that will be provided to shareholders who are eligible to participate at the EGM. This information will be available to such shareholders at the Company’s headquarters at prospect Narodnogo Opolcheniya 2, St. Petersburg, 198216, Russia (room 1112) between 10am and 5pm Moscow time on any working day, except weekends, from September 4, 2009.

All shareholders eligible to participate in the EGM shall be sent a written notice of the EGM and the voting bulletins not later than 20 days before the date of the EGM.