Polimetal OAO : Holdings in Company

Saint-Petersburg, Russia,

1.    The holding of Vitaly Nesis, Polymetal's CEO and the Chairman of the Company's Management Board, has decreased from 3,000,000 ordinary shares of Polymetal, representing 0.7511% of the total share capital of the Company, to zero.

2.    The holding of Sergey Cherkashin, a member of the Company's Management Board, has decreased from 165,000 ordinary shares of Polymetal, representing approximately 0.0413% of the total share capital of the Company, to zero.

3.    The holding of Valery Tsyplakov, a member of the Company's Management Board, has decreased from 200,000 ordinary shares of Polymetal, representing approximately 0.0501% of the total share capital of the Company, to zero.

4.    The holding of Vitaly Savchenko, a member of the Company's Management Board, has decreased from 2,000 ordinary shares of Polymetal, representing approximately 0.0005% of the total share capital of the Company, to zero.

According to the notifications, all of the above shares have been transferred in favour of PMTL Holding Limited, a wholly owned subsidiary of Polymetal International Plc, a company incorporated in Jersey, Channel Islands, under the Institutional Share Swap Facility announced on 30 September 2011.

Media Contact Andrey Abashin Press-secretary Tel. [phone] [e-mail]

Investor Relations Contact Pavel Danilin EVP, Strategic Development Tel. [phone] [e-mail]