OREANDA-NEWS. March 03, 2011. OJSC MMC Norilsk Nickel (hereinafter - MMC Norilsk Nickel or the Company), in relation to the press release published by Corbiere Holdings Limited,  indirect wholly-owned subsidiary of the Company, states the following, reported the press-centre of Norilsk Nickel:

We welcome the resolution of the Eastern Carribean Supreme Court of the High Justice of St. Christopher & Nevis, Nevis Circuit, to discharge the injuction on the securities owned by the Company's subsidiaries, previously imposed on application of UC Rusal on 03.02.2011.

In accordance with this resolution, Corbiere is now able to proceed with purchasing shares from the Company shareholders as part of the program of MMC Norilsk Nickel market capitalization enhancement , which was approved by the Board of Directors on December 28, 2011. Corbiere intends to finish the buyback presently and to completely fulfill its obligations with respect to the shareholders who took part in the process.