OREANDA-NEWS. On May 30, 2008 General Director – Chairman of the Management Board of MMC Norilsk Nickel (hereinafter Norilsk Nickel or the Company) Denis Morozov attended the Second International Conference Corporate Governance and Globalization of the World Economy, reported the press-centre of Norilsk Nickel.

In Conference session Relations and Cooperation between Shareholders Denis Morozov delivered a report on key corporate governance principles implemented in Norilsk Nickel and shared information on the Company’s approach to investor relations.

Denis Morozov pointed out that relations between a public company and its investors demand attention and efforts to be made by the management on the permanent basis to accomplish and improve existing corporate governance practices.

"Cooperation with investors directly reflects a company’s corporate governance system. Higher corporate standards are, the clearer and more transparent are the decision-making procedures of the company and the lower will be relevant investment risks", - General Director said.

Denis Morozov also emphasized that in the recent ten years Norilsk Nickel set an example as a company that managed to evolve from a company that had kept its informational privacy to a leading organization in terms of informational transparency and corporate governance.

"On its way to better informational transparency Norilsk Nickel faced more difficulties than many other companies did: we had to contest state approval for data disclosure and for unveiling a number of key figures related to our operating activities", - Denis Morozov said.

For instance, according to Denis Morozov, it was as late as in 2004 that Norilsk Nickel obtained necessary permissions from the Russian government and began disclosing information on base metals reserves. In its 2004 Annual Report the Company presented independently audited data on its gold reserves for the first time in history. In February 2006 MMC Norilsk Nickel for the first time disclosed information on platinum group metals content in its reserves of ores and minerals in the Taimyr Peninsula.

Another important focus is relations with minority shareholders. According to Denis Morozov, after the depositary receipts program registration in 2001 the management set another priority of maintaining relations with international shareholders of the Company who have come to date to play an important role in decision-making at general meetings of shareholders.

In conclusion Denis Morozov spoke about fundamental corporate governance principles implemented by MMC Norilsk Nickel’s management in decision-making processes. Among such principles he listed integrity, transparency, accountability and responsibility.

As was announced earlier, in May 2008 MMC Norilsk Nickel was recognized as the absolute investor relations leader in Europe’s mining and metals production industry. The results of the survey held by Institutional Investor magazine among more than 1300 analysts were published on May 20, 2008 to show that MMC Norilsk Nickel was the only Russian company that took its position among top 10 industry winners selected by both investment funds (on the buy-side) and brokers (on the sell-side). The survey covered the total of 32 industries.

In November 2007 MMC Norilsk Nickel took the first position in Thomson Extel Survey – Focus Russia. Russian and international investors representing 152 asset management companies in 17 countries voted to name Norilsk Nickel Russia’s best public company in the national mining and metals production industry.

MMC Norilsk Nickel intends to further maintain its leadership positions in the industry.