The Federal Financial Markets Service (FFMS) has informed MMC Norilsk Nickel that itresolved onDecember 12, 2006toconsolidate issues No.1-04-40155-F and No. 1-05-40155-F ofordinary registered non-documentary shares ofMMC Norilsk Nickel.

The Company requested that FFMS approve the consolidation ofthese issues ofshares based onthe Resolution byFederal Commission for Markets Service dated April 1, 2003No. 03-18/ Onthe Procedure ofConsolidation ofAdditional Issues ofSecurities.

Shares ofthese two issues had identical par values and guaranteed their owners identical sets ofrights. Itmeans that the outstanding stock ofthe Company remains the same at190,627,747shares with par value of1ruble per share. The state registration number for the consolidated issue is1-01-40155-F.

We initiated the consolidation because the circulation oftwo share issues had caused difficulties for market players. Weare happy that jointly with the Federal Financial Markets Service wehave managed toresolve this technical issue, says Dmitry Usanov, Head ofInvestor Relations atthe Company.

The new state registration number will beautomatically assigned tothe shares ofthe two outstanding issues and shareholders ofthe Company will not have tomake any relevant efforts.