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

On 5 October 2006, based on the Group’s financial performance, the Board of Directors proposed to the Extraordinary General Meeting of Shareholders, scheduled for 24 November 2006, to approve the interim dividends for 9 months 2006 in the amount of RUR 56 per ordinary share or RUR 10.7 billion. Record date is October 5, 2006.

The Board of Directors decided to buy back own outstanding shares

In line with the Company’s general mission to increase shareholder value, and taking into consideration good financial performance the Board of Directors of MMC Norilsk Nickel, at the meeting on 5 October 2006, made decision to buy back own outstanding shares.

The own outstanding ordinary shares with par value 1 RUR each will be bought back by the Company at the 3-month average market price, which is 3,510 RUR per one ordinary share. The total number of shares to be bought from the shareholders should not exceed 7,500,000. The shareholders willing to sell their ordinary shares to the Company are to apply for the buy back from 16 October 2006 till 16 November 2006. More detailed information referring the buy back will be available at the Company’s web site before 16 October 2006.