OREANDA-NEWS. May 15, 2007. OJSC Polyus Gold (RTS, MICEX and LSE – PLZL), Russia’s leading gold producer, today announced the decision taken at a Board Meeting of Directors held on May 14, 2007, to appoint Pavel Skitovich as General Director (CEO) of the Company, with effect from May 29, this year.

Commenting on the new appointment Evgueny Ivanov, outgoing CEO of Polyus Gold said, ‘I am excited to be starting a new business which has the potential to match the phenomenal growth that Polyus Gold has experienced in recent years. I am also delighted to welcome the new CEO of Polyus Gold, Pavel Skitovich, who is to continue with the company’s ambitious strategy for growth.’

Chairman of the Board of Directors Mikhail Prokhorov on behalf of the Board expressed gratitude and appreciation to Evgueny Ivanov for his great contribution to Polyus Gold’s success and growth.