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Moscow, June 17, 2003 – The Central Bank of Russia today granted permission to MMC Norilsk Nickel to export the capital to finance the proposed acquisition of a majority interest in Stillwater Mining Company in the United States.
Dmitry Razumov, deputy general director of Norilsk Nickel, said, “We have satisfied all of the main conditions precedent to the closing of the Stillwater transaction”.
Norilsk Nickel expects to close the transaction by the end of June. According to Razumov, by that time Stillwater will issue 45,5 million new shares of its common stock, representing 51% of Stillwater’s outstanding common stock after the closing, in exchange for US$100 million in cash and approximately 877,000 ounces of palladium. Immediately after the closing independent candidates nominated by Norilsk Nickel will join the Stillwater board of directors, he added.
Stillwater shareholders Monday voted in favor of the transaction at a special meeting. The same day the United States Federal Trade Commission (FTC) granted early termination of the Hart-Scott-Rodino Act waiting period for the stock purchase transaction, clearing the way for the acquisition to become final. | 
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