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ALROSA meets long-term clients

Moscow, December 8, 2016 – Andrey Zharkov, the President of PJSC ALROSA, the world leader in diamond mining, participated in the Annual business meeting with the Company’s long-term clients.

Participants of the meeting from more than 70 companies from around the world had a chance to discuss with ALROSA’s management diamond market trends, the Company’s sales structure, and assess ALROSA’s steps on developing its sales methods and geography.

The Company reported preparing to a new contract period that is to start in 2018. The participants studied the trading sessions schedule for 2017.

ALROSA announced that in 2017 all competitive bidding will be held online on a platform for electronic tenders developed by the Company. Test sales on the new platform were held in 2016 and received a positive feedback from the participants.

Since 2017, ALROSA will start regular special-size diamond auctions in Vladivostok and is planning to resume special-size diamond auctions in New York, USA. The Company also reported its plans to open a representative office in Mumbai, India.

To maintain the demand in the domestic market against the background of the abolition of export duty on export of rough diamonds, ALROSA decided to grant a payment grace period up to 180 days to buyers in the domestic market for up to 50% of the contract value (including VAT) secured with a bank guarantee.

The annual business meeting with the Company’s long-term clients was held in the scope of the ALROSA ALLIANCE program development.

ALROSA ALLIANCE unites ALROSA’s loyal clients who meet high standards of business conduct and possess a keen insight in the diamond market. All ALROSA’s clients who signed long-term agreements for the supply of gem-quality rough diamonds are granted the right to use the ALROSA ALLIANCE logo. The logo was designed to identify a customer who makes part of the range of loyal buyers of rough diamonds.

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