Moscow, 1 February, 2005 — RUSAL, one of the world's leading aluminium producers, and Tajikistan's Ministry of Energy announced today selection of Lahmeyer International of Germany, a leading engineering company, as contractor for a bankable feasibility study for the first phase of construction on the Rogunskaya hydroelectric project in Tajikistan.

Lahmeyer International, which has major experience in Russia and the former Soviet republics, was one of four companies short-listed for the contract.

Construction of Rogunskaya power station is a part of an October 2004 agreement between RUSAL and the Tajikistan government on cooperation in energy and the aluminium industries. After its launch in 2010, the first 4 billion kW/hour phase of Rogunskaya hydro station will be one of the largest electricity production projects in the world, supplying Tajik consumers and stimulating economic growth in the republic. The station is also expected to produce energy for export.

Construction of the Rogunskaya power hydro station, situated 110 km from Tajikistan's capital, Dushanbe, at the Vakhsh River, with projected capacity of 3600 mWt, was begun initially in 1976. For financial as well as social and environmental reasons, construction was delayed and ultimately was suspended following the collapse of the Soviet Union and subsequent civil disturbances in the republic.

Lahmeyer International's study is intended to support future financing of the Rogunskaya project and is scheduled to begin 1 Feb. and be completed by 1 Oct. Lahmeyer has previously provided auditing services for the Rogunskaya power station and has participated in electrical generation modernization projects elsewhere in Central Asia.

About RUSAL

RUSAL is the third largest primary aluminium producer in the world, formed in March 2000 from the merger of a number of the largest smelters and other aluminium producers located in the CIS. The Company accounts for 75% of Russia's primary aluminium output and 10% of the global primary aluminium output. RUSAL is a fully vertically integrated company with a complete production cycle from bauxite mining and the production of raw materials, to the production of primary metal, semi-products and aluminium-based end products. RUSAL is headquartered in Moscow.

About Lahmeyer International

Established in 1966, today Lahmeyer International GmbH is one of the global leaders in providing engineering services today. The company participated in planning, designing and construction control of power stations with total capacity of more 25000 mWt and 60 dams in more than 140 countries. Lahmeyer also participated in 200 energetic projects. Currently the company is involved in 12 large energetic projects in 12 countries.

For International Press

Zhenia Harrison
zharrison@rusal.ru

For Russian Press

Vera Kurochkina
Elena Shanina
Press-center@rusal.ru