OREANDA-NEWS. November 14, 2011. Polyus Gold International Limited (“PGIL” or the “Company”) announces that the 70-day period for acceptance by shareholders of OJSC Polyus Gold of the Russian law governed mandatory tender offer to purchase for cash ordinary registered shares of OJSC Polyus Gold with a nominal value 1.00 Russian ruble per share (the “Shares”) at a purchase price of 1,900.27 Russian rubles per Share, made by the Company on 30 August 2011 (the “Mandatory Offer” and the “Offer Period”), expired, reported the press-centre of Polyus Gold.

The Mandatory Offer was made in accordance with Article 84.2 of the Federal Law of the Russian Federation “On Joint Stock Companies” No. 208-FZ dated 26 December 1995 (as amended), under the terms and conditions set forth in the mandatory tender offer document received by OJSC Polyus Gold on 30 August 2011 and made publicly available at www.polyusgold.com (the “MTO Document”). The acceptances of the Mandatory Offer submitted prior to the expiry of the Offer Period were deemed received on 8 November 2011, the last day of the Offer Period.

According to CJSC Computershare Registrar, the registrar of OJSC Polyus Gold, at the expiration of the Offer Period a total of 7,362,947 Shares, representing approximately 3.86% of the issued and outstanding Shares of OJSC Polyus Gold, had been validly tendered pursuant to the Mandatory Offer.

Within 15 (fifteen) days following the expiry of the Offer Period, namely, from 9 November 2011 until 23 November 2011 inclusive, shareholders of OJSC Polyus Gold who have accepted the Mandatory Offer will be required to transfer the Shares with respect to which they accepted the Mandatory Offer, to the Company. Payment for Shares transferred to PGIL shall be effected within 15 (fifteen) days following the transfer of such Shares to PGIL and shall be made in Russian rubles. PGIL expects to complete settlements under the Mandatory Offer by 8 December 2011.

Assuming that all Shares properly tendered prior to the expiry of the Offer Period are properly transferred to PGIL, PGIL will hold a total of 177,289,549 Shares, representing approximately 93.00% of the issued and outstanding Shares of OJSC Polyus Gold.

On 6 and 7 September 2011 the Shares were excluded from the B quotation lists of RTS and MICEX, respectively, but remain admitted to trading and continue to trade on both stock exchanges without a listing.