20,000,000 Conditional Rights of RenPolyus Ltd., incorporated in BVI, representing participation ownership linked to shares of Open Joint Stock Company Polyus Gold, which is issued in conjunction with a spin-off of assets by Open Joint Stock Company Mining and Metallurgical Company Norilsk Nickel, the parent. The Issue is being classified by the BSX as a derivative warrant. The spin-off assets are represented by certificates that are initially represented by one master certificate and upon the terms and conditions set out in the Prospectus. No member of the Public of either Bermuda or BVI will be invited to participate and the certificates will be listed only on the Bermuda Stock Exchange and transfer is restricted to Qualified Investors. Renaissance Capital Holdings Ltd. guarantees the Issue and the certificates are to be distributed to Qualified Investors by Renaissance Securities (Cyprus) Ltd., the appointed Agent.