NEWS RELEASE                                  

                                          For Immediate Release - 08 June, 2015

    Chelyabinsk Zinc Plant Announces Q1 2015 Consolidated Financial Results    

Chelyabinsk, Russia - June 08, 2015 - Chelyabinsk Zinc Plant (LSE, MICEX-RTS:
CHZN), Russia's largest producer of zinc and zinc alloys, is pleased to
announce its consolidated financial results for the three months ended March
31, 2015 based on consistent accounting policy (Unaudited).

Q1 2015 HIGHLIGHTS

  * Chelyabinsk Zinc Plant's (CZP) revenue totalled RUB 6,913 mln. 

  * EBITDA amounted to RUB 2,401 mln or 35% of revenue.

  * Net profit was RUB 1,597 mln.

Consolidated financial results

(in millions of Russian Roubles)       Q1          Q1     Change, % 
                                      2015        2014              
                                                                    
Revenue                               6,913      3,133       121%   
                                                                    
Gross profit                          2 541       653        289%   
                                                                    
                   Gross margin, %         37%        21%           
                                                                    
EBITDA (1)                            2,401       476        405%   
                                                                    
                  EBITDA margin, %         35%        15%           
                                                                    
Profit before income tax              2,022       344        488%   
                                                                    
Net profit                            1,597       295        441%   
                                                                    
                     Net margin, %         23%         9%           

(1) EBITDA, for any relevant period, represents operating profit before
interest, income tax, depreciation and amortization.

EBITDA is not a measurement of CZP's operating performance presented in the
financial information, prepared in accordance with IFRS, and should not be
considered as an alternative to operating profit or any other performance
measure derived in accordance with IFRS or other relevant financial framework.

Revenue

Q1 2015 consolidated revenue increased by 121% to RUB 6,913 mln as compared to
Q1 2014.

The average LME zinc price in Q1 2015 amounted to US$ 2,080/tonne, slightly
higher than Q1 2014 level. The average LME lead quotes decreased by 14% to
US$ 1,806/tonne. Positive effect on revenue was made by the growth of exchange
rates (US Dollar, Pound Sterling, Kazakhstan Tenge) against the Russian Rouble.

Revenue structure

(in millions of Russian Roubles)       Q1          Q1     Change, % 
                                      2015        2014              
                                                                    
Zinc and zinc alloys                  5,795      2,274       155%   
                                                                    
                               CZP       4,282      1,668       157%
                                                                    
                       Brock Metal       1,513        606       150%
                                                                    
Zinc tolling                           349        401       (13%)   
                                                                    
Lead concentrate                       195        114        71%    
                                                                    
                               CZP        42         16         159%
                                                                    
                         Nova Zinc       153         98          56%
                                                                    
Other products                         574        344        67%    
                                                                    
Total revenue                         6,913      3,133       121%   

In Q1 2015, CZP's revenue from sale of zinc and zinc alloys increases by 157%
as compared to the Q1 2014 and amounted to RUB 4,282 mln. The growth of revenue
was due to 78% increase of US dollar/Russian Rouble exchange rate (Q1 2015: RUB
62.2; Q1 2014: RUB 35.0) and increase of sales on the domestic markets by 42%
(Q1 2015: 29.7 thousand tonnes; Q1 2014: 20.9 thousand tonnes).

Revenue of The Brock Metal Company Limited for Q1 2015 amounted to RUB 1,513
mln, 150% higher than in Q1 2014. This increase was due to 64% growth of Pound
Sterling/Russian Rouble exchange rate (Q1 2015: RUB 95.7; Q1 2014: RUB 58.2)
and 39% growth of zinc alloys sales (Q1 2015: 9.6 thousand tonnes; Q1 2014: 7.0
thousand tonnes).

CZP received revenue of RUB 349 mln under tolling agreement in Q1 2015, which
is 13% lower compared to Q1 2014. The decrease of tolling's volume by 22% (Q1
2015: 11.6 thousand tonnes; Q1 2014: 14.9 thousand tonnes) was due to increase
of zinc and zinc alloys sales on the domestic market. Fixed processing fee
amounted to RUB 30,000/tonne (Q1 2014: RUB 27,000)

Revenue from lead concentrate sales of Nova Zinc for Q1 2015 increased by 56%
compared to Q1 2014. The increase was due to 62% growth of Kazakhstan Tenge/
Russian Ruble exchange rate (Q1 2015: RUB 0.34; Q1 2014: RUB 0.21).

In Q1 2015, revenue from CZP's other by-products increased by 67% to RUB 574
mln as compared to Q1 2014. The main reasons of revenue increase were sales of
accumulated balance of precious metals and also the growth of sulphate zinc
price due to increase of US dollar/Russian Rouble exchange rate.

Cost of Sales

(in millions of Russian Roubles)       Q1          Q1     Change, % 
                                      2015        2014              
                                                                    
Raw materials and consumables used    2,796      1,617       73%    
in production                                                       
                                                                    
Utilities and fuel                     568        585        (3%)   
                                                                    
Staff cost                             297        225        32%    
                                                                    
Depreciation and amortization          296        202        47%    
                                                                    
Repairs and maintenance                154        148         4%    
                                                                    
Mineral extraction tax                 105         61        72%    
                                                                    
Other taxes                            58          35        65%    
                                                                    
Production overheads                   31          24        28%    
                                                                    
Inventory provision                     5          -         n/a    
                                                                    
Other costs                            37          34        11%    
                                                                    
Change in work-in-progress             129         69        86%    
                                                                    
Change in finished goods              (105)      (520)       n/a    
                                                                    
Cost of sales                         4,371      2,480       76%    

Cost of materials and consumables used primarily comprises of the cost of zinc
concentrate, zinc containing raw materials, materials for alloys production and
auxiliary materials used in the production process. The main reasons of changes
were the growth of raw materials price due to increase of exchange rates
against the Russian Rouble, volume growth of purchased raw materials (due to
structure changes of zinc and zinc alloys sales related to JSC «CZP») and
growth of auxiliary materials prices.

In Q1 2015, costs of utilities and fuel decreased by 3% to RUB 568 mln mainly
due to decrease of expenses on electricity transmission services. The
electricity tariff for CZP in Q1 2015 totaled RUB 1.75 per kWh (Q1 2014: RUB
2.20 per kWh)

Staff costs increased by 32% as compared to the relevant period of the previous
year, to RUB 297 mln. The increase was mainly due to the growth of exchange
rates (Kazakhstan Tenge, Pound Sterling) against the Russian Rouble and also
due to the growth of average salaries.

In Q1 2015, amortization deductions increased by 47% compared to Q1 2014, to
RUB 296 mln. The increase was due to growth of exchange rates (Kazakhstan
Tenge, Pound Sterling) against the Russian Rouble and also due to the reversal
of previously accrued impairment loss related to assets of LLP "Nova Zinc".

Distribution, General and Administrative Expenses

In Q1 2015, distribution costs increased by 40% and amounted to RUB 262 mln.
The main reasons were changes of contracts terms for zinc and zinc alloys sales
on Russian domestic markets (starting from the year 2015 delivery expenses were
included in zinc price) and also transportation cost growth due to CZP's zinc
delivery to Brock Metal Company Limited.

General and administrative expenses amounted to RUB 234 mln in Q1 2015, 19%
higher than in Q1 2014 (RUB 188 mln).

Net profit

Net profit for Q1 2015 totalled RUB 1,597 mln compared to RUB 295 mln for Q1
2014. The main factors of net income growth were the increase of US dollar/
Russian Rouble exchange rate and growth of zinc and zinc alloys sales on
Russian domestic market.

About Chelyabinsk Zinc Plant

Chelyabinsk Zinc Plant is the leading Russian zinc producer. In 2014 the plant
produced 168,601 tonnes of saleable SHG zinc.

According to consolidated IFRS accounts, revenue in 2014 was RUB 16,508 mln and
EBITDA was RUB 3,825 mln.

Ordinary shares of CZP are traded on the Moscow exchange MICEX-RTS under ticker
CHZN and Global Depository Receipts (GDR) are traded on the London Stock
Exchange under ticker CHZN.

                                                   Investor and Media Contacts:

                                             Natalya Vasilieva, PR, ngv@zinc.ru

                                                        Tel: +7 (351) 799-01-52

                                              Evgeny Ponomarev, IR, eyp@zinc.ru

                                                          Tel: +7 963 998-55-58

This announcement may include forward-looking statements. CZP's actual results
may differ materially from those made in or suggested by the forward-looking
statements contained in this announcement. By their nature, forwarding-looking
statements involve risks and uncertainties because they relate to events and
depend on circumstances that may or may not occur in the future.
Forward-looking statements are not guarantees of future performance. Even if
the actual results are consistent with the forward-looking statements contained
in this announcement, those results may not be indicative of results or
developments in future periods. CZP does not undertake any obligation to update
any forward-looking statements to reflect events that occur or circumstances
that arise after the date of this announcement. 

JSC CHELYABINSK ZINC PLANT

Consolidated Interim Condensed Statement of Financial Position as at 31 March
2015 (unaudited)

       '000 RUB                     31 March        31 December  
                                      2015             2014      
                                                                 
Assets                                                           
                                                                 
Property, plant and                 6,800,185      6,852,061     
equipment                                                        
                                                                 
Advances for                        3,400,000      3,400,000     
acquisition of business                                          
                                                                 
Advances for                         179,373       103,830       
acquisition of                                                   
property, plant and                                              
equipment                                                        
                                                                 
Intangible assets                    153,007       148,351       
                                                                 
Other non-current                      464         557           
assets                                                           
                                                                 
Non-current assets                 10,533,029      10,504,799    
                                                                 
                                    2,329,577      2,334,184     
Inventories                                                      
                                                                 
Trade and other                     3,726,587      3,181,629     
receivables                                                      
                                                                 
Current income tax                    1,752        1,420         
prepayment                                                       
                                                                 
Financial assets                     103,607       56,694        
                                                                 
Cash and cash                       1,887,540      447,750       
equivalents                                                      
                                                                 
Current assets                      8,049,063      6,021,677     
                                                                 
Total assets                       18,582,092      16,526,476    
                                                                 
                                                                 
Equity                                                           
                                                                 
Share capital                        127,635      127,635        
                                                                 
Share premium                       1,375,231     1,375,231      
                                                                 
Legal reserve                         3,011       3,011          
                                                                 
Translation reserve                 1,315,652     1,274,349      
                                                                 
Retained earnings                   12,924,122    11,326,915     
                                                                 
Total equity                        15,745,651    14,107,141     
                                                                 
                                                                 
Liabilities                                                      
                                                                 
Provision for asset                  155,023      145,173        
retirement obligations                                           
                                                                 
Deferred income tax                  183,851      183,274        
liabilities                                                      
                                                                 
Other non-current                     62,916      62,287         
liabilities                                                      
                                                                 
Total non-current                    401,790      390,734        
liabilities                                                      
                                                                 
                                    1,265,460     1,491,972      
Accounts payable,                                                
accrued expenses and                                             
advances from                                                    
customers                                                        
                                                                 
Current income tax                   259,367      38,179         
payable                                                          
                                                                 
Other taxes payable                  616,903      403,162        
                                                                 
Bank overdrafts                      292,921      95,288         
                                                                 
Total current                       2,434,651     2,028,601      
liabilities                                                      
                                                                 
Total liabilities                   2,836,441     2,419,335      
                                                                 
Total equity and                    18,582,092    16,526,476     
liabilities                                                      
                                                                 

JSC CHELYABINSK ZINC PLANT

Consolidated Interim Condensed Statement of Profit and Loss and Other
Comprehensive income for the three months ended 31 March 2015 (unaudited)

                                                           For the three months,       
                                                              ended 31 March           
                                                                                       
                  '000 RUB                                 2015            2014        
                                                                                       
Revenue                                                    6,912,627       3,133,197   
                                                                                       
Cost of sales