OREANDA-NEWS. March 20, 2012. UC RUSAL (SEHK: 486; Euronext: RUSAL/RUAL; MICEX-RTS: RUALR), the world’s largest aluminium producer, further to SUAL Partners’ comments regarding the election of the new Chairman to the Board of Directors considers it necessary to make the following statement.

Barry Cheung’s election as a Chairman was supported by a majority vote of the Board, including the independent directors. This proves that his candidacy meets the interests of all shareholders, including minorities. His appointment was also met by a marked rise in the Company’s share price, which had been declining over the past few days under pressure from the emotional and groundless statements made by SUAL Partners.

The appointment of a foreign citizen as Chairman of the Board follows the widespread practice of Russian companies and is in line with global best-practice corporate governance. With regard to RUSAL, its operations across five continents make it a truly international Company.

RUSAL believes that none of the Company’s shareholders should dictate or impose any decision to the Board, especially given the appointment of the Chairman followed careful consideration by the Board and was approved by a majority vote. RUSAL considers Mr Shtorkh’s personal comments on the Company to be inappropriate and reflecting his personal judgment, which is not shared by the Board, including the independent directors.

RUSAL would like to reiterate that SUAL Partners’ destructive actions not only damage the Company’s reputation, but also destroy its shareholder value. With this in mind, we are considering the option of pursuing legal action in order to protect the Company’s interests.