MMC Norilsk Nickel: NORILSK NICKEL BOARD OF DIRECTORS APPROVES PRODUCTION AND FINANCIAL TARGETS AND NEW DIVIDEND POLICY

MMC Norilsk Nickel: NORILSK NICKEL BOARD OF DIRECTORS APPROVES PRODUCTION AND
                  FINANCIAL TARGETS AND NEW DIVIDEND POLICY

Moscow, October 1, 2013 - MMC Norilsk Nickel (hereinafter, NN or the Company),
the largest global nickel and palladium producer, announces that its Board  of 
Directors today  has  approved  the Company's  key  production  and  financial 
targets for  2014-2018, which  have been  developed on  the basis  of its  new 
strategy. The production and investment  targets are based on the  development 
of the Company's  brownfield and higher-margin  greenfield upstream  projects, 
with a focus on the  "Tier I" assets of  Norilsk Nickel's Polar division,  and 
the completion  of the  roll-out of  the Company's  new investment  governance 
system in 2014.

The Board of Directors also approved the Company's new dividend policy,  which 
the Company believes will provide NN with one of the most attractive  dividend 
yields in the mining industry. Under this policy, annual dividends in  respect 
of the financial  years ending  2013 and  2014 will  be calculated  as 50%  of 
EBITDA for the relevant year, but in  any event not less USD 2.0 billion;  the 
annual dividend payment  in respect of  the financial year  ending 2015,  will 
comprise 50% of EBITDA  for 2015 plus the  difference between USD 7.0  billion 
and the sum total  of the actual  dividend payments in 2014  and 2015 (with  a 
potential deferral in payment of up to 20% of such amount until the  following 
year); and, in respect of  financial years after 2015,  50% of EBITDA for  the 
relevant year. Additionally,  any proceeds  received by the  Company from  the 
disposal of Norilsk Nickel's non-core assets will be paid out in 2014-2015  as 
a special dividend in an aggregate amount of up to USD 1.0 billion.

Norilsk Nickel  will seek  to  provide a  comprehensive  overview of  its  new 
strategy and  key  development  targets  at  its  forthcoming  "Unveiling  New 
Strategy" events in London (October 4, 2013) and New York (October 7, 2013).

For further information, please, contact:

Media Relations:          Investor Relations:
Phone: +7 (495) 797 82 94 Phone: +7 (495) 786 83 20
Email: pr@nornik.ru       Email: ir@nornik.ru

ABOUT MMC NORILSK NICKEL:

MMC Norilsk  Nickel, a  company incorporated  under the  laws of  the  Russian 
Federation, is the world's largest producer of nickel and palladium and one of
the world's  largest producers  of platinum,  rhodium, copper  and cobalt.  In 
addition to  this,  MMC  Norilsk  Nickel produces  a  large  number  of  other 
by-products,  including  gold,  silver,   tellurium,  selenium,  iridium   and 
ruthenium.

The key production units of the Company's group in Russia are at the Polar and
Kola Peninsulas.  Norilsk Nickel  international assets  include operations  in 
Finland, Australia, Botswana and South Africa.

MMC Norilsk Nickel's shares  are traded on the  Moscow Exchange. ADR's on  the 
Company's shares are traded on the other  the counter market in the US and  on 
the London and Berlin stock exchanges.

Forward looking statements
This announcement may contain "forward-looking statements" concerning Norilsk.
Generally, the words "will", "may", "should", "could", "would", "can",
"continue", "opportunity", "believes", "expects", "intends", "anticipates",
"estimates" or similar expressions identify forward-looking statements. The
forward-looking statements involve risks and uncertainties that could cause
actual results to differ materially from those expressed in the
forward-looking statements. Forward-looking statements include statements
relating to business and management strategies and the expansion and growth of
Norilsk's operations. Many of these risks and uncertainties relate to factors
that are beyond Norilsk's ability to control or estimate precisely and
therefore undue reliance should not be placed on such statements which speak
only as at the date of this announcement. Norilsk assumes no obligation in
respect of, and does not intend to update, these forward-looking statements,
except as required pursuant to applicable law.

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Source: MMC Norilsk Nickel via Thomson Reuters ONE
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