MMC Norilsk Nickel continues to actively develop its merger and acquisitions activities. For this reason at the end of 2004 the company formed a separate department for mergers and acquisitions led by Vice Chairman Leonid Rozhetskin and Deputy General Director Dmitry Razumov.

“We have carefully studied the prospects of the M&A activities of Norilsk Nickel and concluded that the most efficient way of furthering these activities would be a shift to an outsourcing policy, - Dmitry Razumov said. - Together with Leonid Rozhetskin we proposed to the Company’s management to create an independent company to render services and advice on mergers and acquisitions to Norilsk Nickel.”

According to Dmitry Razumov, the principal elements of the offer have been approved. “We will now deal with the creation of such company,” he said.

For this purpose Vice Chairman Leonid Rozhetskin and Deputy General Director Dmitry Razumov have left their positions in the Company.

“In this new business we will continue to work in the interests of Norilsk Nickel, first of all, on the projects with Stillwater Mining and Gold Fields”, Dmitry Razumov emphasized.

MMC Norilsk Nickel considers that liaison with an independent consulting company on mergers and acquisitions will allow it to carry out projects in this area on the world markets in the most efficient way.