Moscow, 7 October 2008 – UC RUSAL, which owns 25% plus two shares of Norilsk Nickel, believes that it is necessary to issue the following clarification in light of the abrupt drop in Norilsk Nickel’s shares: Yesterday’s fall in Norilsk Nickel’s share price on the Russian and international markets has no connection with the stake owned by UC RUSAL. UC RUSAL considers its investment in Norilsk Nickel to be a strategic stake and has no intention of selling its stake.

‘The city council is doing their best to facilitate the construction of Yekaterinburg’s future Academic district,’ the spokesperson for Yekaterinburg municipal council Konstantin Pudov said to an UrBC reporter. Renova Group’s Chairman Viktor Vekselberg recently reported to Russian President Dmitriy Medvedev on how the implementation of the project went along. ‘Our goal is to put up a city of the twenty-first century. This is an ambitious endeavor, but we have been able to face the challenge so far, despite the financing difficulties and the stock market problems. The project requires 11

RTS stock exchange stopped dealing in Uralsvyazinform’s common and preferred stock for one hour at 11 AM Moscow time. This had to do with the mobile operator’s shares dropping in price by over 10% at the opening of business. At the same time, the company’s common stock fell by 18.16% at MICEX stock exchange by 11 AM on Monday, thus coming to only 17.5 RUR per share.

The assembling of a finishing center meant for OCTG production is nearly complete at Pervouralsk New Pipe Plant (part of ChTPZ Group) by now. Over 50% of the machinery got assembled already, while the startup and commissioning have been scheduled for the first quarter of 2009. The plant has been working on its Finishing Center since March 2007; the project is expected to result in a new OCTG facility capable of producing tubing strings, casings, and O&G pipelines. The center will comprise a coupling unit, a thermal treatment unit, a pipe-end upset unit, a pipe control unit, and a

Bank24.ru’s BOD Chairman Sergey Lapshin coordinated a press conference dedicated to setting up of the bank’s first 24/7 office in Saint Petersburg. He announced that Olga Lysukho was chosen to run the office there. In the meantime, FinNews.ru reports the bank is apparently not planning to expand its ATM network in Saint Petersburg.

The Ural Bank for Reconstruction and Development has recently raised the interest rate the company offers on its special Holiday deposit up to 13.9% a year (provided the deposit period comes to 100 to 130 days). In case you want to withdraw your money before the deposit period comes to an end, the interest rates will still be generally higher than the usual ones. According to the terms of the bank’s other deposits, the interest is either paid on a monthly basis or at the end of the deposit period; as a matter of fact, improved interest is offered for these deposit types as well: in case you