OREANDA-NEWS. November 18, 2013. Polyus Gold International Limited (LSE – PGIL, OTC (US) – PLZLY), the largest gold producer in Russia, announces the following changes to its Board of Directors:

Lord Clanwilliam, Independent Non-Executive Director, has resigned from the Board;

Mr. Pavel Grachev has been appointed to the Board as Non-Executive Director.

Commenting on Lord Clanwilliam’s resignation, Mr. Ilya Yuzhanov, Chairman, said:

“We are most grateful to the Earl of Clanwilliam for his long service and valued advice and contribution to the Board and a number of its committees over recent years. We wish him all the best in the future.”

Mr. Pavel Grachev was nominated by Wandle Holdings Limited, a company associated with Mr. Suleyman Kerimov.

Mr. Grachev is Chairman of the Board of Nafta Moskva (Cyprus) Limited. He is also Member of the Board of Directors of JSC Federal Grid Company. Mr. Grachev served on the Board of Polyus Gold from 2009 to 2011. He has also served on the boards of OJSC Uralkali (from 2010 to 2012), PIK Group (from 2009 to 2011, including as Chairman from 2010 to 2011) and OJSC Polymetal (from 2006 to 2008). From January to September 2013, Mr. Pavel Grachev was General Director of OJSC Far East and Baikal Region Development Fund. From 2011 to 2013, he headed the Moscow representative office of Alpina Capital A.C.L. Limited (Cyprus). From 2010 to 2011, Mr. Grachev was General Director of OJSC Uralkali. From 2006 to 2008, he headed the Legal Department at LLC Nafta Moskva. Mr. Grachev graduated from the Saint Petersburg State University and the University of Trieste (Italy) with degrees in law.

Save for the information disclosed above, no further information is required to be disclosed in respect of Mr. Grachev under Listing Rule 9.6.13.

Additionally, the following changes have been made to the composition of the Board’s Committees:

Lord Clanwilliam, resigning from the Board, stood down from the Audit Committee, the Nominations Committee and the Remuneration Committee;

Mr. Bruce Buck, Independent Non-Executive Director, has stood down as Chairman of the Health, Safety, Environment and Community Committee, and has been appointed Chairman of the Remuneration Committee;

Mr. Edward Dowling, Independent Non-Executive Director, has been appointed Chairman of the Health, Safety, Environment and Community Committee, and also Member of the Audit Committee and the Nominations Committee;

Mr. Igor Gorin, Non-Executive Director, has been appointed Member of the Health, Safety, Environment and Community Committee;

Mr. Pavel Grachev, Non-Executive Director, has been appointed Member of the Nominations Committee; and

Mr. Kobus Moolman, Independent Non-Executive Director, has been appointed Member of the Remuneration Committee.