OJSC Polyus Gold (RTS, MICEX and LSE - PLZL), Russia’s leading gold producer, today announced  the appointment of Vladimir Sovmen as General Director of the company’s wholly-owned subsidiary ZAO Polyus. The appointment was made on February 11th, 2008, after Mr. Sovmen has completed a prescribed medical treatment course. General Director of Polyus Gold Evgueni Ivanov, previously holding the position, was appointed President of ZAO Polyus.

Polyus Gold is the largest gold producer in Russia. Headquartered in Moscow, Polyus Gold’s operating mines and development/exploration projects are located in five major gold mining regions of Russia - Krasnoyarsk, Irkutsk, Magadan, Amur regions and the Republic of Sakha (Yakutia). In 2007 the company produced 1.2 million ounces of gold.

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For press:
Victoria V. Vergelskaya, PR Director
Elena D. Evstigneeva, Media Relations
 +7 (495) 641-3365
 +7 (495) 544-5496
pr@polyusgold.com

For investors:
Alexey V. Chernushkin, Director, CM and IR
Evguenia V.Buydina, IR manager
 +7(495) 641-3377
 +7(495) 785-4031
ir@polyusgold.com