Interros, the largest shareholder in OJSC MMC Norilsk Nickel, today welcomes the decision by RiskMetrics Group, formerly known as Institutional Shareholder Services (ISS), to recommend that minority shareholders cumulate their votes in support of Gerard Holden and Brad Mills as independent directors.

In the report ahead of the Extraordinary General Meeting called for December 26, 2008, to elect a new 13-member Board, RiskMetrics, the world’s leading provider of independent proxy voting recommendations and corporate governance services, notes that while recognizing the qualifications of all eight candidates designated as independent under Russian corporate law, it believes that, «of these, Mills and Holden would be able to best serve all shareholders’ interests.»

RiskMetrics notes that «Mills’ extensive experience in managing mining companies could be of tremendous value to MMC Norilsk Nickel at this crucial time for the company» and that «Holden’s experience in both metals and finance makes him uniquely qualified to serve on the company’s board of directors, especially given the current market conditions.»

RiskMetrics also points out that minority shareholders would be best served by cumulating their votes for no more than two independent candidates and that, given the nature of the voting system, cumulating for three independent nominees would pose «a significant risk of diluting the minority shareholder vote, resulting in fewer independent directors than would otherwise be possible.»

Interros supports the creation of a balanced Board with strong independent directors, which it believes will be a force for stability in the company.

Enquiries:

Interros Media Relations: +7 495 726 57 67,kirp@pr.interros.ru

Andrew Garfield, Brunswick:+44 (0)20 7404 5959