Bond information

OJSC "Mining and Metallurgical Company Norilsk Nickel" on September 17, 2004 priced US$500 million of 7.125% Notes due 30 September 2009.

The issuing entity of the Notes is Norilsk Nickel Finance Luxembourg S.A., a special purpose entity incorporated in Luxembourg, and the Notes are unconditionally and irrevocably guaranteed by OJSC "Mining and Metallurgical Company Norilsk Nickel". The proceeds of the issue have been used for general corporate purposes.

Today the bonds which have been issued by MMC Norilsk Nickel have the following rating appropriated by the international rating agencies:

Rating agency Rating/ Forecast Date of last change/ upgrade of rating
Standard&Poor's International Services BBB- / Stable August 8, 2006
Moody's Investors Service Ltd. Baa2 / Stable October 9, 2006
Fitch Ratings Ltd. BBB- / Stable November 2, 2006