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United Company RUSAL Plc: Notifiable Transaction Settlement with Interros in Relation to Norilsk Nickel Entering into of the

  United Company RUSAL Plc:Notifiable Transaction Settlement with Interros in
  Relation to Norilsk Nickel Entering into of the Agreement

Business Wire

HONG KONG -- December 11, 2012

Regulatory News:

United Company RUSAL Plc (Paris:RUSAL) (Paris:RUAL)

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong
Limited take no responsibility for the contents of this announcement, make no
representation as to its accuracy or completeness and expressly disclaim any
liability whatsoever for any loss howsoever arising from or in reliance upon
the whole or any part of the contents of this announcement.

                           UNITED COMPANY RUSAL PLC
        (Incorporated under the laws of Jersey with limited liability)
                              (Stock Code: 486)

                            NOTIFIABLE TRANSACTION
            SETTLEMENT WITH INTERROS IN RELATION TO NORILSK NICKEL
                        ENTERING INTO OF THE AGREEMENT

Reference is made to the announcement of the Company dated 4 December 2012 in
relation to the settlement with Interros (the “Announcement”).

The Board announces that on 10 December 2012 (Moscow time), the Company,
Interros, Millhouse, and the respective beneficial owners of Interros and
Millhouse, namely Mr. Potanin and Mr. Abramovich, entered into the Agreement
which includes revised terms from those considered by the Board on 3 December
2012.

Shareholders and investors should note that the transactions contemplated by
the Agreement may require the satisfaction of certain conditions and therefore
may or may not proceed. Shareholders and investors should exercise extreme
caution when dealing in the securities of the Company.

INTRODUCTION

Reference is made to the Announcement. Unless otherwise required, terms
defined in the Announcement shall have the same meanings when used herein.

The Board announces that on 10 December 2012 (Moscow time), the Company,
Interros, Millhouse, and the respective beneficial owners of Interros and
Millhouse, namely Mr. Potanin and Mr. Abramovich, entered into the Agreement
which includes revised terms from those considered by the Board on 3 December
2012.

SALE OF NORILSK NICKEL SHARES

Instead of Millhouse acquiring approximately 7.3% stake in Norilsk Nickel in
the form of quasi-treasury shares currently held by subsidiaries of Norilsk
Nickel as described in the Announcement, all the quasi-treasury shares of
Norilsk Nickel will be redeemed by Norilsk Nickel. The Company and Interros
will sell 3,873,537 shares and 5,420,464 shares in Norilsk Nickel,
respectively, to Millhouse at USD160 per share in cash. The price was agreed
by the parties after arm´s length negotiations. After the aforesaid
acquisition and following a redemption of all quasi-treasury shares held by
Norilsk Nickel, the Company, Interros and Millhouse will hold approximately
27.8%, 30.3% and 5.87% shares in Norilsk Nickel, respectively.

BOARD OF DIRECTORS OF NORILSK NICKEL

Instead of the intended board composition as described in the Announcement,
the board of directors of Norilsk Nickel shall be composed of thirteen (13)
members, out of which four (4) nominated by the Company, four (4) by Interros,
one (1) by Millhouse, and three (3) independent directors with each of such
independent directors being nominated by each of the Company, Interros and
Millhouse. The parties to the agreement will not vote for the thirteenth
member of the board which will be elected by Norilsk Nickel minorities’ votes.

Shareholders and investors should note that the transactions contemplated by
the Agreement may require the satisfaction of certain conditions and therefore
may or may not proceed. Shareholders and investors should exercise extreme
caution when dealing in the securities of the Company.

                                         By Order of the Board of Directors of
                                                      United Company RUSAL Plc
                                                            Vladislav Soloviev
                                                                      Director

11 December 2012

As at the date of this announcement, the executive Directors are Mr. Oleg
Deripaska, Ms. Vera Kurochkina, Mr. Maxim Sokov and Mr. Vladislav Soloviev,
the non-executive Directors are Mr. Dmitry Afanasiev, Mr. Len Blavatnik, Mr.
Ivan Glasenberg, Mr. Maksim Goldman, Ms. Gulzhan Moldazhanova, Mr. Christophe
Charlier, Mr. Artem Volynets, Mr. Dmitry Yudin, Mr. Vadim Geraskin, and the
independent non-executive Directors are Mr. Barry Cheung Chun-yuen, Dr. Peter
Nigel Kenny, Mr. Philip Lader, Ms. Elsie Leung Oi-sie and Mr. Matthias Warnig
(Chairman).

All announcements and press releases published by the Company are available on
its website under the links http://www.rusal.ru/en/investors/info.aspx and
http://www.rusal.ru/en/press-center/press-releases.aspx, respectively.

Contact:

United Company RUSAL Plc