Polimetal OAO : Dividend declaration of US$0.20 per share

Saint-Petersburg, Russia, April 25, 2012 - JSC "Polymetal" (MICEX-RTS: PMTL) ("Polymetal") is pleased to announce that the board of directors of Polymetal International Plc (LSE: POLY) (the head company of a Group, together with its subsidiaries, including JSC "Polymetal" - the "Company", or the "Group") have approved the payment of a dividend of US$0.20 per ordinary share for the year ended 31 December 2011.

The Directors of Polymetal International are proposing the payment of a final dividend of US$0.20 per ordinary share of the Company for the year ended 31 December 2011 (2010: nil), subject to shareholder approval at the Annual General Meeting of the Company to be held on 13 June 2012. Assuming such approval by shareholders, the dividend will be paid on 18 June 2012 in pounds sterling, with an option for shareholders to  elect to receive the dividend in US dollars, such election to be made not later than the record date (18 May 2012) or, if made through CREST, by the next business day (21 May 2012). Payments in US dollars will be made by cheque and based on US$/GBP exchange rate set on 30 May 2012 being the prevailing spot exchange rate on that day.

Details:

EX DIV DATE: 16 May 2012

RECORD DATE: 18 May 2012

SET US$/GBP EXCHANGE RATE: 30 May 2012

AGM: 13 June 2012

PAYMENT DATE: 18 June 2012