JSC “Polymetal” (LSE, MICEX, RTS: PMTL) (“Polymetal” or the “Company”) announces that it has entered into a credit facility agreement (the “Agreement”) with ZAO Raiffeisenbank for the total amount of US$100 million.

Key parameters of the Agreement are as follows:

• Interest rate: 1 month LIBOR plus 5% p.a. till 31 October 2010 and 7% p.a. thereafter;
• Final maturity date: 24 months from the Agreement execution date;

“We are very pleased to have refinanced yet another portion of our debt portfolio on a very favorable terms”, said Vitaly Nesis, CEO of Polymetal. “We continue to work on the remaining debt and are on track to complete portfolio restructuring by the end of this year”.