Holdings in JSC Aurum
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Saint-Petersburg, Russia, November 13, 2008 - JSC "Polymetal" (LSE, MICEX, RTS: PMTL) ("Polymetal" or the "Company") announces that on November 12, 2008 it purchased 8 (eight) shares of JSC Aurum from OJSC Olginskaya Mining and Geological Company. As a result of this transaction, Polymetal's stake in JSC Aurum increased from 73.24% to 84.51%.
JSC Aurum is Polymetal's exploration subsidiary conducting exploration of gold deposits at the Reftinskaya Zone (Sverdlovsk Region).
Pavel Danilin
VP, Corporate Finance and Investor Relations
Tel. +7 812 334 3666
E-mail: danilin@polymetal.ru
Website: www.polymetal.ru
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