MMC Norilsk Nickel statement in relation to Corbiere Holdings Limited press release

February 28, 2011, Moscow — OJSC MMCMining and Metallurgical CompanyPublic Joint Stock Company "Mining and Metallurgical Company "Norilsk Nickel"Go to the glossaryGo to the glossary Norilsk Nickel (hereinafter — MMC Norilsk Nickel or the Company), in relation to the press release published today by Corbiere Holdings Limited, indirect wholly-owned subsidiary of the Company, states the following:

We welcome the resolution of the Eastern Carribean Supreme Court of the High Justice of St. Christopher & Nevis, Nevis Circuit, to discharge the injuction on the securities owned by the Company’s subsidiaries, previously imposed on application of UC Rusal on 03.02.2011.

In accordance with this resolution, Corbiere is now able to proceed with purchasing shares from the Company shareholders as part of the program of MMC Norilsk Nickel market capitalization enhancement , which was approved by the Board of Directors on December 28, 2011. Corbiere intends to finish the buyback presently and to completely fulfill its obligations with respect to the shareholders who took part in the process.

PJSC “MMC “NORILSK NICKEL” is a diversified mining and metallurgical company, the world’s largest producer of refined nickel and palladium and a leading producer of platinum, cobalt, copper and rhodium. The company also produces gold, silver, iridium, selenium, ruthenium and tellurium.

The production units of “NORILSK NICKEL” GroupPublic Joint Stock Company "Mining and Metallurgical Company "Norilsk Nickel” and its subsidiariesGo to the glossary include Polar Division, located at the Norilsk Industrial District on Taimyr Peninsula, and Kola Mining and Metallurgical Company located on the Kola Peninsula in Russia as well as Harjavalta nickel refinery in Finland.

PJSC “MMC “NORILSK NICKEL” shares are listed on the Moscow and on the Saint-Petersburg Stock Exchanges. PJSC “MMC “NORILSK NICKEL” ADRAmerican Depositary Receipt; a security representing partial ownership in deposited securities of a foreign company certified by receipts issued by a US depositary bankGo to the glossarys trade over the counter in the US and on the London and Berlin Stock Exchanges.