OREANDA-NEWS. April 08, 2011. JSC "Polymetal" (LSE, MICEX, RTS: PMTL) ("Polymetal" or the "Company") has received a notification that the holding of VITALBOND LIMITED ("VITALBOND') decreased from 59,907,197 ordinary shares and 203,621 Global Depositary Receipts, representing in aggregate 15.05% of the total share capital of Polymetal, to 34,248,879 ordinary shares, representing 8.58% of the total share capital of the Company. The above changes were recorded on June 28 and July 27, 2010, reported the press-centre of Polymetal.

At the same time, according to the above notification, the actual ownership of the ultimate beneficial owner of VITALBOND, Mr. Alexander Mamut, is 10.73% of Polymetal's share capital, as he owns Polymetal shares not only via VITALBOND, but also via A&NN CAPITAL MANAGEMENT FUND LIMITED, an affiliated company.

ABOUT POLYMETAL
Polymetal is a Russian gold and silver miner with operations and development projects in Russia and Kazakhstan. The Company produced 0.75 million of gold equivalent ounces in 2010 and is targeting to take its total production to 1.2 Moz in 2012 mostly as a result of commissioning of the new projects, all of which are now under construction. A key element of Polymetal's strategy is creation of processing hubs with the goal to ensure the most efficient and responsible utilization of financial and human capital by treating ores and concentrates from various sources at centralized locations.