Norilsk Nickel has Prolonged Term of Validity of its Offer to LionOre Share Holders till August 13

Norilsk Nickel press service says prolongation of the term of validity of the offer will give another opportunity to holders of convertible LionOre bonds maturing in 2011 to convert them into LionOre common stock and to deposit them as an acceptance of the Norilsk Nickel offer, besides, it will help the bonds holders to receive an annual yield of bonds repayable on July 30, 2007 according to terms of convertible bonds. Thus, bonds holders will be able to receive the biggest payment in short term after the conversion and depositing of common stock with no need to wait till Norilsk Nickel has accomplished transaction on compulsory mergence.

On June 29, 2007 on receiving the confirmation that all the terms of the Norilsk Nickel offer had been observed the company agreed to receive through its 100% sister company LionOr shares that had been deposited on June 3, 2007. By the full paying up of the deposited shares Norilsk Nickel has gained control over LionOre.