Chelyabinsk, Russia – May 26, 2009 – The Board of Directors of the Chelyabinsk Zinc Plant (LSE: CHZN, RTS: CHZN, MICEX: CHZN) adopted a decision to hold the Annual General Shareholders’ Meeting of CZP on June 30, 2009.

The Board of Directors of CZP set May 25, 2009 as the record date for preparing the list of persons entitled to participate in the Annual General Shareholders’ Meeting of CZP.

The Annual General Meeting of the Company’s shareholders will address the following agenda items:

1. Adoption of the annual report and annual financial statements, including the profit and loss statement (profit and loss account) of JSC CZP, and distribution of profits and losses of JSC CZP based on the results of the 2008 financial year.

2.

Election of the Board of Directors of JSC CZP.

3. Election of the Audit Commission of JSC CZP.

4.

Appointment of the external auditors of JSC CZP.

5.

Determination of the cost of services for the provision of directors and officers liability insurance for JSC CZP.

6.

Approval of the interested party transaction for the provision of directors and officers liability insurance for JSC CZP.

The Board of Directors of CZP has decided to recommend to the Annual General Shareholders’ Meeting of CZP not to announce or pay annual dividends based on the results of the 2008 financial year.

Ruled by the current legislation of Russian Federation and CZP’s Charter, the Board of Directors nominated the candidates suggested by the shareholders for the Board of Directors to be approved by the AGM.

The list of nominees included Sergei Moiseyev, Arkley Capital; Vsevolod Geikhman, CZP JSC; Alexander Fyodorov, Chelyabinsk Pipe Plant JSC; Alexei Shilov, CMT-Technologies LLC; Christian Schaffalitzky de Muckadell, Eurasia Mining Plc; Johann Albrecht Adriaan (Hans) Bouman; Leonid Kazanbayev, CZP JSC, Pavel Denisov, sole trader, Alexander Zatonskiy, CZP JSC.

The information (materials) that must be provided to shareholders in preparation for the Annual General Shareholders’ Meeting will be available for perusal from June 9, 2008 (during business hours from 10:00AM to 5:00PM) at the Property Department of CZP, situated at: Sverdlovsky Trakt, 24, Chelyabinsk, Russia, and at the offices of the registrar at: Moskovsky Branch of ZAO Registrar INTRAKO, Volgogradsky Prospect, 2, Moscow, Russian Federation (during business hours from 10:00AM to 2:00PM).

Venue for the Annual General Shareholders’ Meeting: Conference Hall of the plant administration building (bldg.

4), situated at: Sverdlovsky Trakt, 24, Chelyabinsk, Russian Federation.

Start of the Annual General Shareholders’ Meeting: 5:00 PM (local time).  Start of registration of meeting participants: 4:00 PM (local time).

Postal address for forwarding completed voting ballots: CZP, Sverdlovsky Trakt, 24, Chelyabinsk, 454008, Russian Federation and Moskovsky Branch of ZAO Registrar INTRAKO, Volgogradsky Prospect, 2, Moscow, 109316, Russian Federation.

Deadline for submission of completed voting ballots to the Company: June 26, 2009.