Untitled - PRIME Gold

1122005NORILSK NICKEL • ANNUAL REPORT •NORILSK NICKEL • ANNUAL REPORT •2005113••• Listed sharesIn Russia, MMC Norilsk Nickel shares are traded on the followingexchanges under the following tickers:ExchangesRTS – MoscowMICEX – MoscowIdentifiable tickerGMKN classical marketGMKNG exchange marketRU14GMKN0408 (4th issue)RU14GMKN0507 (5th issue)In June 2001, the Company signed a depository agreementwith The Bank of New York, under which the issue of Level-1 ADRs for MMC Norilsk Nickel shares was initiated. Custodialservices for ADR transactions are rendered by ING Bank (Eurasia)ZAO. ADRs are traded abroad on the following exchanges:• over the counter ("OTC") in the United States (NILSY US);• IOB, London Stock Exchange (MNOD LI); and• Freiverkehr, Berlin-Bremen Stock Exchange (NNIA GR).ADRs convert into ordinary shares of the Company at a 1:1ratio. As of 31 December 2005, MMC Norilsk Nickel had atotal 77.9 million ADRs outstanding.The market capitalization of MMC Norilsk Nickel is used in thecalculation of the key Russian stock indices, such as RTS, MICEX,Interfax, Moscow Times, AK&M, as well as the stock indices ofthe leading international investment institutions and stockexchanges, including the MSCI, CSFB, HSBC, The Bank of NewYork, and the Vienna Stock Exchange.Performance of MMC Norilsk Nickel sharesand selected mining indices(MMC Norilsk Nickel shares in US dollars,indices adjusted to MMC Norilsk Nickel share price)MMC Norilsk Nickel share price(US dollars)RTS share prices (1)Minimum Maximum At the endof the period2000 6.10 12.05 7.302001 6.50 20.85 17.022002 15.00 25.00 20.252003 20.25 66.00 65.152004 44.00 81.10 54.4020051st quarter 51.10 65.00 58.352nd quarter 53.55 63.60 60.603rd quarter 60.40 79.35 79.354th quarter 67.50 90.10 88.60ADR prices at the London Stock ExchangeMinimum Maximum At the endof the period2001 10.90 17.05 17.002002 15.03 24.85 20.002003 19.80 26.70 66.502004 43.90 82.70 55.5020051st quarter 49.25 66.25 59.002nd quarter 53.50 63.20 61.273rd quarter 56.00 84.00 83.254th quarter 66.75 96.50 94.01MMC Norilsk Nickel major shareholders (1)(Shareholders holding more than 1% of MMC Norilsk Nickel shares as of 15 May 2006)Shareholder Total number of shares % of the total numbermillion of issued sharesThe Bank of New York International Nominees (2) 47.5 24.9Pharanco Holdings Co. Limited (3) 22.9 12.0Dimonsenco Holdings Co. Limited (4) 22.9 12.0Bektanco Holdings Co. Limited (3,5) 15.2 8.0Rinsoco Trading Co. Limited (4,5) 15.2 8.0CJSC HC Invest 14.1 7.4Decoso Investments Limited (3) 6.8 3.6Confirmaro Trading Limited (4) 6.8 3.6Total major shareholders 151.4 79.5Notes:(1) The total number of shareholders in the Register included 71 legal entities (including 16 nominal holders) and 59,136 individuals.(2) Excluding the ADRs held by Bektanco and Rinsoco.(3) The beneficiary of these companies is Mr. V.O. Potanin.(4) The beneficiary of these companies is Mr. M.D. Prokhorov.(5) Including the shares converted into ADRs.SHARE CAPITAL AND SHARE PRICES11ADR price on electronic OTC section of NasdaqMinimum Maximum At the endof the period2001 10.71 17.50 17.252002 14.90 24.75 20.182003 20.05 26.60 67.252004 43.65 83.00 55.0020051st quarter 49.00 66.00 58.502nd quarter 53.70 63.00 61.003rd quarter 60.70 83.00 83.004th quarter 67.90 95.50 95.00Note:(1) Before the 4th quarter of 2001 – RAO Norilsk Nickel shares, after the 4thquarter 2001 – OJSC MMC Norilsk Nickel.