OREANDA-NEWS. September 14, 2009. Further to the announcements by JSC “Polymetal” (LSE, MICEX, RTS: PMTL) (“Polymetal” or the “Company”) in relation to issuance of 84,375,000 additional ordinary shares to be placed by the Company (the “New Shares”), Polymetal announced that the period during which eligible shareholders in the Company can exercise their pre-emptive rights in respect of the New Shares will end on October 8, 2009, reported the press-centre of Polymetal.

As previously announced by the Company, under Russian law, shareholders who voted ‘against’ or did not vote in relation to resolution 2 (to approve the placement of the New Shares) at the Extraordinary General Meeting of the Company held on June 19, 2009 (“EGM”) are entitled to pre-emptive rights to acquire New Shares of Polymetal in proportion to the number of shares in the Company they held as at the record date (May 14, 2009) at the price determined by the Board of directors, i.e. at 278 Russian roubles per New Share.

Eligible shareholders will be able to exercise their pre-emptive rights by submitting to the Company applications to purchase New Shares not later than 8 October 2009.

IMPORTANT INFORMATION FOR GDR HOLDERS
Eligible holders of Global Depositary Receipts (“GDRs”) representing Polymetal’s ordinary shares who instructed Deutsche Bank Trust Company Americas (the “Depositary”) to vote ‘against’ resolution 2 at the EGM or did not instruct the Depositary to vote in relation to this resolution, may instruct the Depositary to take up New Shares and to issue to such eligible holders additional GDRs representing such New Shares on the basis and within the period of time set out in a corporate action notice circulated to GDR holders through the clearing systems.