Moscow, 4 October 2010 – UC RUSAL (SEHK: 486, EuroNext: RUSAL/RUAL), the world’s largest aluminium producer, announces that it has completed the refinancing of its Vnesheconombank’ (VEB) loan with a new USD 4.58 billion credit facility from ‘Sberbank’. The new facility was drawn down on 30 September and the VEB loan has been repaid in full.

The credit facility provided by ‘Sberbank’ covers the debt to VEB and capitalized interest. The new loan is for the period up to 7 December 2013, with an option to renew for a further 1.5 years, at an interest rate of LIBOR+5%.

Commenting on the deal, Oleg Mukhamedshin, RUSAL’s Deputy CEO and Director of capital markets, said: “Refinancing the VEB loan was the final step in a comprehensive program to restructure our loan portfolio. We have succeeded in achieving long-term agreements with all our creditors under conditions which will help to ensure the stable development of the company and provide opportunities for strengthening its competitiveness. Lower debt and interest rate will be a strong contribution to it.”

VEB’s loan to RUSAL, amounting to USD 4.5 billion, was agreed in November 2008 and was used to repay the loan obtained in April 2008 from a syndicate of foreign banks to finance the cash component of the acquisition of 25% of Norilsk Nickel.

About UC RUSAL

UC RUSAL (www.rusal.com) is the world’s largest producer of aluminium, in 2009 accounting for approximately 10% and 10% of global production of aluminium and alumina, respectively. UC RUSAL employs about 76,000 people in 19 countries, across 5 continents. UC RUSAL markets and sells its products primarily in the European, Japanese, Chinese, Korean, South East Asian and North American markets. UC RUSAL’s ordinary shares are listed on The Stock Exchange of Hong Kong Limited (Stock code: 486) and global depositary shares representing UC RUSAL’s ordinary shares are listed on the professional compartment of Euronext Paris (RUSAL for Reg S GDSs and RUAL for Rule 144A GDSs).

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The information contained in this press release is for media advice only. The contents are true and accurate at the time of publishing, however, may change over time.