OREANDA-NEWS. January 18, 2011. President of ALROSA Fyodor Andreev held a regular management meeting with his staff. The agenda included the discussion of the Company’s results of the Company in 2010 and its development strategy in 2011.

In 2010 ALROSA sold a total of over USD 3.483 billion worth of rough and polished diamonds. Based on the world diamond market outlook for 2011, ALROSA plans to sell USD 3.5 billion this year.

The key objectives for the Company in 2011 have been set out as follows:

full-scale implementation of the underground mine construction program in order to enable the already in operation underground mines of Mir and Aikhal to reach design capacity;

approving the Company’s development strategy for the period until 2018, adjusted for the implementation of the Timir iron ore project and major development guidelines up to 2030 providing for introducing into industrial production mines with a lower diamond grade;

finalizing work to comply with the resolution of the shareholders of ALROSA on its conversion into an open joint-stock company.

President of ALROSA Fyodor Andreev introduced to the management the new appointee for Chief Accountant of ALROSA Elena Leonidovna Timonina who takes over this position effective from January 17, 2011.