MMC “Norilsk Nickel” and US Stillwater Mining Company have announced that the agreement signed on November 20 2002 is completed. Stillwater Mining Company has issued 45,463,222 new shares (about 51% of the company’s shares); “Norimet” Company, the subsidiary of MMC “Norilsk Nickel”, has bought these shares for $100 mln in cash and 877 thou ounces of palladium. The total value of the deal is $257 mln.

Now the board of directors of Stillwater Mining Company consists of nine members, five of them being the representatives of MMC “Norilsk Nickel”.