SFC Circular on Prudent Risk Management on Margin Financing and Compliance with Conditions Imposed on the Listing of the United Company Rusal Limited

Our Ref: Circulars 15 Jan 2010 Circular issued by the Securities and Futures Commission (SFC) Regarding Prudent Risk Management on Margin Financing and Compliance with Conditions Imposed on the Listing of the United Company Rusal Limited (the Company) B1/15C G16/1C 15 January 2010 The Chief Executive All Registered Institutions Dear Sir / Madam, Circular issued by the Securities and Futures Commission (SFC) Regarding Prudent Risk Management on Margin Financing and Compliance with Conditions Imposed on the Listing of the United Company Rusal Limited (the Company) I am writing to draw your attention to a circular issued by the SFC on 14 January 2010 ("the SFC Circular"). The SFC Circular reminds intermediaries of the need for prudent risk management and compliance with applicable requirements set out in the conditions that the SFC is imposing on the listing of the Company. A copy of the SFC Circular is enclosed at Annex. Registered institutions which provide margin financing or place the offer shares of the Company should put in place adequate systems and procedures so as to ensure all the requirements set out in the SFC Circular are fulfilled. Yours faithfully, Nelson Man Executive Director (Banking Supervision) Encl. Annex (PDF file, 42KB) c.c. SFC (Attn: Mr Stephen Po, Senior Director of Intermediaries Supervision)

Last revision date : 01 August 2011