SUAL group of companies, encompassing 21 Russian bauxite, alumina and aluminium enterprises, “Access Industries (Eurasia)”, and ? group of international investors associated with Fleming Family & Partners (the “FF&P Investors”) announce today the signing of a cooperation agreement to form a new international resources and industrial group.

This will combine the existing operations of SUAL group of companies (which will form the nucleus of the new company), with coal mining assets currently controlled by “Access Industries (Eurasia)”, and nickel and tantalum assets contributed by FF&P investors.

In addition to the contribution of assets, the FF&P Investors will also make a financial investment into SUAL International.

As a result of these transactions the FF&P Investors will own up to 23% of the new group, with the remainder of the shareholding being held by existing shareholders of SUAL and “Access Industries (Eurasia)”.

In due course, following Board approval, the SUAL will announce management appointments drawn from the international business community.

The intention of the sponsors is to create a significant diversified international resources and industrial group with access to international capital markets and an asset base in markets which provide high value development opportunities.

Victor Vekselberg, Head of SUAL group of companies, said: “Our stated ambition is to internationalise SUAL. This partnership announced today is a further step in the process of preparing SUAL for the international capital markets. I am particularly pleased that a group of international investors associated with Flemings has demonstrated confidence in our company by making a considerable investment in SUAL International. It is testament to the quality of our operations and governance.”