Moscow, 26 September, 2003 - RUSAL, the world’s second largest aluminium company, announced today that last week it received a new USD 100 million bilateral credit facility from Credit Suisse First Boston International (CSFB). Proceeds under the facility will be used to finance the production and export of primary aluminium by RUSAL.

The facility has been provided for five years, which is to date the longest tenor in the Russian metals sector. This demonstrates improved creditworthiness in the Russian metals sector and, in particular, confidence in RUSAL within the international financial community. 

The facility will be repaid in equal quarterly instalments after a grace period. The loan security includes assignment of a long-term sales contract with Hydro Aluminium.

Oleg Mukhamedshin, RUSAL’s Corporate Finance Director, said that the CSFB deal sets a new benchmark for the Russian metals industry. 
 

About RUSAL
RUSAL is the second largest primary aluminium producer in the world, formed in March 2000 from the merger of a number of the largest smelters and other aluminium producers located in the CIS. The Company accounts for 75% of Russia's primary aluminium output and 10% of the global primary aluminium output. RUSAL is a fully vertically integrated company with a complete production cycle from bauxite mining and the production of raw materials, to the production of primary metal, semi-products and aluminium-based end products. RUSAL is headquartered in Moscow.

For further information:
www.RUSAL.com
Eugenia Harrison, Moscow, +7 095 720 5170, or zharrison@RUSAL.ru;