Based on the materials from the company’s official web-site.

Mining and Metallurgical Company (MMC) Norilsk Nickel announces preliminary consolidated production figures of its Polar Division and Kola MMC for the third quarter of 2006.

Tav Morgan, Deputy General Director of MMC Norilsk Nickel, announced that the Company fulfilled its third quarter production plan for nickel and copper, producing 61 thousand metric tons of nickel and 101 thousand metric tons of copper. Overall production volumes for the first 9 months of 2006 reached 182 thousand metric tons of nickel and 319 thousand metric tons of copper.

The Company produced 768 thousand ounces (23.9 metric tons) of palladium and 179 thousand ounces (5.6 metric tons) of platinum during the third quarter of 2006. Overall production volumes for the first 9 months of 2006 reached 2.422 million ounces (75.3 metric tons) of palladium and 577 thousand ounces (17.9 tons) of platinum. These volumes are related only to the production results of the Polar Division and Kola MMC and do not include those that were produced at Stillwater Mining Company.

In addition, Tav Morgan confirmed that the incident which took place on 27 August 2006 at Komsomolsky mine of the Company’s Polar Division did not affect the implementation of the 3rd quarter and overall 2006 Company production plan. Expected nickel and copper production for 2006 remains at an estimated 243-248 thousand metric tons of nickel and 422-427 thousand metric tons of copper.

Due to decreasing production inventories and achieving actual metal recoveries in excess of plans, the Company is raising its 2006 production forecast for palladium from the previously announced 3.05-3.10 million ounces (95-96 metric tons) to between 3.15-3.19 million ounces (98-99 metric tons) and platinum from 720-730 thousand ounces (22-23 metric tons) to 750-760 thousand ounces (23-24 metric tons).

Since the third quarter of 2005, Norilsk Nickel has been releasing quarterly nickel and copper production figures of its Polar Division and Kola MMC within 30 days of the end of the quarter.