OREANDA-NEWS. March 4, 2011. UC RUSAL (SEHK: 486, EuroNext: RUSAL/RUAL, MICEX: RUALR, RTS: RUAL), the world’s largest aluminium producer and owner of a 25% stake in MMC Norilsk Nickel, announces that the Board of Directors of RUSAL have resolved to reject the proposal set out in the letter from MMC Norilsk Nickel to purchase the company’s 20% stake in MMC.

The Board of the Company carefully studied  the analysis of the situation provided by the Board’s Committee on Norilsk Nickel matters and approved the Committee’s recommendation to reject the proposal to sell the company’s 20% stake set out in the letter.