OREANDA-NEWS. November 17, 2011. Further to the announcement made by Polyus Gold International Limited (“PGIL” or the “Company”) on 10 November 2011 with respect to the result of acceptances under the mandatory tender offer for shares of OJSC Polyus Gold (the “Mandatory Offer”), PGIL clarifies that, as previously disclosed, Jenington International Inc. (“Jenington”), an indirect subsidiary of PGIL and a 100% subsidiary of CJSC Polyus, holds 8,995,859 American depositary receipts, representing rights to approximately 2.36% of the issued and outstanding ordinary registered shares of OJSC Polyus Gold with a nominal value 1.00 Russian ruble per share (the “Shares”) of OJSC Polyus Gold, reported the press-centre of Polyus Gold.

Assuming that all Shares tendered pursuant to the Mandatory Offer are properly transferred to PGIL, PGIL will hold a total of 177,289,549 Shares, representing approximately 93.00% of the issued and outstanding Shares of OJSC Polyus Gold, which, together with the American depositary receipts held by Jenington, would represent approximately 95.36% of the issued and outstanding share capital of OJSC Polyus Gold.