Completion of offer to purchase by Norilsk Nickel Investments Ltd. for cash common shares and ADSs of OJSC MMC Norilsk Nickel

MMC Norilsk Nickel notes announcement by Norilsk Nickel Investments Ltd. that NN Investments has completed settlements with respect to its previously-announced offer to purchase up to 14,705,882 of the issued and outstanding shares of common stock of Norilsk Nickel, nominal value 1.00 ruble per share (“Common Shares”), including American Depositary Shares (“ADSs”) representing Common Shares of Norilsk Nickel at US$306.00 (its equivalent in Russian rubles) per Common Share or US$30.60 per ADS (the “Offer”). The Offer commenced on September 28, 2011 and expired on October 28, 2011. NN Investments completed all payments for the Common Shares transferred to it under the share purchase agreements on December 7, 2011.

Common Shares, including Common Shares represented by ADSs, that were purchased by NN Investments in the Offer, constitute in the aggregate approximately 7.7 % of the issued and outstanding share capital of Norilsk Nickel.

Prior to the expiration of the Offer, Corbiere Holdings Limited, an indirect subsidiary of Norilsk Nickel (“Corbiere”), entered into repurchase transactions with international investment banks and financial institutions, pursuant to which it transferred title and voting rights with respect to Common Shares and ADSs representing approximately 7.4 % of the issued and outstanding share capital of Norilsk Nickel. After giving effect to these repurchase transactions and the acquisition of Common Shares and ADSs pursuant to the Offer, direct and indirect subsidiaries of Norilsk Nickel hold in the aggregate approximately not more than 10 % of its issued and outstanding share capital.
This announcement is not and will not be made to securityholders in any jurisdiction where it would be illegal to do so. This announcement is addressed exclusively to the holders of Common Shares and ADSs of Norilsk Nickel to which it may be addressed pursuant to applicable laws and regulations and does not constitute an offer ("oferta") or a solicitation of an offer ("predlozhenie delat oferti") under Russian Law, or an advertisement, or an offer of securities to an unlimited number of persons within or outside the territory of the Russian Federation.