JSC “Polymetal” announces that the Company has entered into several loan agreements with ZAO UniCredit Bank for the total amount of US$ 70 million.

Key parameters of the Agreements are as follows: interest rate – 1 month LIBOR plus 6.0% per annum, term exceeds 12 months.

“Both interest rate and maturity of these loans prove Polymetal’s ability to use improving credit situation to optimize our debt portfolio. We continue to work on the remaining debt and plan to complete portfolio restructuring by the end of 2009”, said Vitaly Nesis, CEO of Polymetal. “Besides that, we are very pleased to see further development of our relationship with UniCredit Bank, which is becoming one of our key partner banks”.