Referring to the information on the current operation of OJSC MMC Norilsk Nickel (hereinafter - MMC Norilsk Nickel or the Company) that was published in mass media recently, the Company has to make the following statement.

The management of MMC Norilsk Nickel held no meetings with representatives of UniCredit Securities and made no declarations with regard to dividend amounts, anticipated financial results or any plans concerning corporate assets.

Therefore, the Company deems statements and figures presented in the UniCredit Securities’ analytical review inaccurate.

Earlier it was announced that the Board of Directors of MMC Norilsk Nickel decided not to pay 2008 dividend. As for any future dividend payout, the decision will depend on the Company’s financial liabilities including debt repayment requirements and 2009-2010 investment program execution, as well as on its financial performance as reported in IFRS-compliant statements.