OREANDA-NEWS. September 30, 2011. JSC "Polymetal" (LSE, MICEX, RTS: PMTL) ("Polymetal" or the "Company") announces that the Company's Management Board has distributed 15% of the bonus fund of the Company's employee incentive programme (the "Programme"), reported the press-centre of Polymetal.

On September 2, 2010 Polymetal announced that the Company's Board of Directors (the "Board") had approved the Programme pursuant to the terms of which a bonus fund representing up to 30 million ordinary shares of Polymetal (the "Bonus Fund") had been established. The shares comprising the Bonus Fund are to be sold to the Programme's participants for a nominal price of 1 (One) Russian rouble per share, under the base case scenario, in 2013.

On November 9, 2010 Polymetal announced that the Board had approved the list of 76 employees who became participants of the Programme and as such, in aggregate, entitled to receive 85% of the Bonus Fund (or up to 25.5 million ordinary shares of Polymetal), with the remaining 15% of the Bonus Fund (or up to 4.5 million shares) having been allocated to a reserve fund to be distributed among future participants by the Management Board of the Company within the term of validity of the Programme.

The Management Board has now distributed the remaining part of the Bonus fund, as a result of which the number of the Programme's participants has increased to more than 150 people.

Further details in relation to the Programme can be found in the announcements made by the Company on September 2 and November 9, 2010.