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ALROSA

October 25, 2004

Meeting of ALROSA Supervisory Board

On October 22, 2004 the Supervisory Board of ALROSA Co. Ltd. held its meeting in Moscow under the chairmanship of RF Finance Minister Alexey Kudrin.

The Supervisory Board approved the Company’s strategy for marketing rough natural diamonds in internal and external markets.

The Board gave the green light for the development of the new marketing and sales strategy in 2002 in view of the emerging trends impacting all the aspects of the diamond business, such as the loss by De Beers of its former dominant role as a rough diamond trading monopoly, tougher competition for the access to rough sources, and also the need to bring the Company’s distribution and marketing strategy in line with the Russian and European competition laws.

The development of the strategy was made possible by liberalization of the Russian diamond legislation in view of Russia’s intention to join WTO.

The strategy aims at higher efficiency of diamond sales and further consolidation of ALROSA’s position in the global rough diamond market.

The high international diamond market, favorable situation in the Russian economy in general and ALROSA’s increasing technological and financial potential are expected to facilitate the implementation of the company’s new distribution and marketing strategy.

 

 

 

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