Directors’ Dealings
On June 18th, 2007 pursuant to the Disclosure and Transparency Rules Polymetal was notified of the transaction related to the Stock Option Plan of Nafta Moskva.
Mr. Alexander Mosionzhik, Mr. Nikolai Belykh, Mr. Andrei Rodionov and Mr. Pavel Gratchev who are the Directors of the Company have purchased ordinary shares of Polymetal from its major shareholder Nafta Moskva (Cyprus) Ltd.
The following table shows the number of Polymetal shares purchased and the resultant holdings of the Directors:
| Director | Status | Shares purchased | Resultant holding |
| Alexander I. Mosionzhik | Chairman of the Board of Directors | 2,000,000 | 2,000,000 (0.63%) |
| Nikolai Y. Belykh | Member of the Board of Directors | 700,000 | 700,000 (0.22%) |
| Andrei M. Rodionov | Member of the Board of Directors | 700,000 | 700,000 (0.22%) |
| Pavel S. Gratchev | Member of the Board of Directors | 500,000 | 500,000 (0.16%) |
The transaction was completed on June 15th, 2007 in Moscow. The shares were purchased at nominal price of 0.2 rubles.