Rusal’s RDRs start trading on MICEX and RTS

Rusal has become the first company to launch a Russian Depository Receipts programme. The programme is aimed at improving the attractiveness of and access to Rusal’s shares for the extensive Russia-focused investor base. In addition, the listing of RDRs on Russian stock exchanges will potentially facilitate Rusal’s inclusion in the MSCI Russia index which will create additional demand for the Company’s securities.

The issue of the RDRs by Sberbank commenced on 23 December 2010, when the conversion of the Company’s shares into RDRs became possible. In order to boost liquidity of RDRs, Sberbank selected Russia’s leading brokers VTB Capital, Renaissance Broker and Troika Dialog as market makers.

RDRs are issued on common shares of the Company, admitted for trading on the Hong Kong Stock Exchange. Each RDR will represent a right of its holder to receive 10 (ten) common shares. RDRs do not have any nominal value. There is no time limit on the issue of RDRs within the RDR programme. The Company’s shareholders will be able to receive RDRs against the deposit of shares, and, vice versa, RDR holders will be able to receive shares.

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