The following excerpt by General Director, Chairman of the Management Board Denis S. Morozov is from the OJSC MMC Norilsk Nickel 2007 Social Report which is available at: Norilsk Nickel 2007 Social Report

Dear readers,

OJSC MMC Norilsk Nickel is pleased to present the social report for 2007 which represents another step forward by the company in disclosing information regarding various aspects of its operations and activities concerned with sustainable development. At the core of our development strategy and our everyday business is the belief that consistent observance of social responsibility principles is a prerequisite for sustained and effective development of business.

In 2007, the Company continued the successful implementation of the adopted development strategy, modernised the existing production facilities, provided for further development of the unique resource base and entry to the Russia’s new regions.

In 2007, the Company significantly expanded the geography of its operations. OJSC MMC Norilsk Nickel successfully completed the transaction to acquire nickel business of OM Group Inc. and consolidated 100% shares of LionOre Mining International Ltd.1

The purchase of LionOre is the largest foreign acquisition in the history of Russian business. Today, MMC Norilsk Nickel is a leader of international metal markets with excellent outlook for further development.

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Growth and Diversity: The Changing Face of Global Mining

Introduction

Ladies and Gentlemen. It is an honour for Norilsk Nickel to present at this conference. This is our first major corporate presentation in China.

Could I begin by extending my congratulations to the organisers for the work they have put into the preparation of the conference and for helping to reinforce the reputation of China Mining as one of the premier events in the mining industry’s calendar.

For those not familiar with the name, Norilsk Nickel is Russia’s leading mining company and the world’s largest producer of nickel and palladium. It is also a major producer of copper, cobalt, platinum, and a host of minor metals from operations in the far north of Russia on the Taimyr and Kola peninsulas.

The company’s principal mining operations, located around the town of Norilsk, are extremely remote from other centres of population in Russia and exposed to some of the harshest conditions faced by miners anywhere in the world.

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On April 3, 2007 Denis Morozov took up the post as General Director of MMC Norilsk Nickel. Mr. Morozov was previously Deputy General Director and Member of the Management Board of MMC Norilsk Nickel.

Born on March 30, 1973, Mr. Morozov is married and has two children. He graduated with distinction from the Lomonosov Moscow State University, faculty of jurisprudence, as a specialist in law in 1996. Mr. Morozov graduated from the Swiss Banking School as a specialist in commercial banking in 1999, as well as completing postgraduate studies at the Russian Ministry of Foreign Affairs’ Moscow State Institute for International Relations as a specialist in international economic relations. The following year, Mr. Morozov earned a PhD in economics.

Since March 1, 1999 he worked for RAO Norilsk Nickel as Head of the Administration of Corporate Structures, Head of Corporate Capital and Investor Relations, Member of the Management Board, Member of the Board of Directors. From 2000 to 2001 he was responsible for carrying out the restructuring of RAO Norilsk Nickel and establishing a new public company, OJSC MMC Norilsk Nickel, on the basis of The Norilsk Mining Company, a subsidiary of RAO Norilsk Nickel. From 2005 to 2006 Mr. Morozov was responsible for the spin-off of gold mining assets from MMC Norilsk Nickel into a separate company OJSC Polyus Gold.
 
“The Company is a well operating entity today.” Denis Morozov said, in an April 3, 2007 company press release. “Everything goes smoothly under the leadership of professional managers capable not only to set aggressive goals, but also to achieve impressive results. Continuing implementation of the corporate development strategy delivers the industry’s highest return to our shareholders in the form of dividend payments, multifold increase in share price, as well as equity interests in spun-off assets. I would like to emphasize that all of the projects launched recently will be completed as scheduled to the benefit of all our shareholders.”