OREANDA-NEWS. May 23, 2008. OJSC Polyus Gold (RTS, MICEX and LSE - PLZL), Russia’s leading gold producer, announced that it had received an offer from a third party to sell 4,766,000 ordinary shares (approximately 2,5% of its ordinary shares) for US\\$350 million, reported the press-centre of Polyus Gold.

Polyus Gold is seeking clarifications regarding the offer. There can be no assurance as to whether the offer will be accepted, or on what terms.

Polyus Gold is the largest gold producer in Russia. Headquartered in Moscow, Polyus Gold’s operating mines and development/exploration projects are located in five major gold mining regions of Russia - Krasnoyarsk, Irkutsk, Magadan, Amur regions and the Republic of Sakha (Yakutia). The company produced 1.2 m oz of gold in 2007.