OREANDA-NEWS. August 4, 2010. UC RUSAL, the world’s largest aluminium producer and owner of 25% of the shares of MMC Norilsk Nickel, declares that the official results of the meeting of the Board of directors of MMC Norilsk Nickel as announced by MMC in relation to “CREATION OF CONCILIATION COMMISSION” do not correspond to the facts.

The Board of Directors of MMC Norilsk Nickel did not decide to create of a “conciliation commission.” Moreover, such a decision could not have been taken as it is outside the competence of the Board of Directors.

The situation can only be settled through the appointment of an independent professional management team that will apply the highest standards of corporate governance and will be able to propose an action plan to raise the company’s capitalization in the interest of its all shareholders.