SOURCE: Stillwater Mining Company

March 11, 2008 10:04 ET

Stillwater Mining Company Recaps Palladium Jewelry Market Development Program Decision Taken Under the Auspices of the International Platinum Group Metals Association

BILLINGS, MT--(Marketwire - March 11, 2008) - STILLWATER MINING COMPANY (NYSE: SWC) today reiterated a news release made from Moscow, Russia, Monday, March 3, 2008 in which MMC Norilsk Nickel, announced that, "following a comprehensive study involving independent consultants and the Palladium Alliance International, a decision has been taken to plan and implement a market development program for palladium jewelry."

Norilsk Nickel, the largest producer of palladium, will lead the initiative supported by Anglo Platinum, Impala Platinum and Lonmin, the major palladium producers in South Africa, and Stillwater Mining Company, the sole producer of palladium in the United States of America.

The release, which can be accessed on the Norilsk Nickel web site at www.nornik.ru is included in full in this release as reported by MMC Norilsk Nickel:

Extension of market development programme for platinum group metals in jewellery with significant development proposed for palladium jewellery

Following a comprehensive study involving independent consultants and the Palladium Alliance International, under the auspices of the International Platinum Group Metals Association, a decision has been taken to plan and implement a market development programme for palladium jewellery. The initiative will initially focus on China and the United States of America. Norilsk Nickel, the largest producer of palladium, will lead, supported by the major palladium producers in South Africa (Anglo Platinum, Impala Platinum, and Lonmin) and the United States of America (Stillwater Mining Company).

The objective is to establish successfully a clear and specific brand position for palladium in jewellery which, in partnership with the jewellery designers, manufacturers and retailers, will achieve a sustainable market with growth opportunities for palladium metal offtake. This follows on from the platinum jewellery development programme supported by the South African platinum producers since 1975. The platinum programme is led by Anglo Platinum and it will continue. Norilsk Nickel and Stillwater Mining Company will be supporting the platinum programme.

Both platinum and palladium jewellery market development, will in future be funded by the same group, but will be managed by separate organisations. A new individual brand identity will be developed for palladium jewellery.

The key Platinum Group Metal Producers believe this to be an important strategic development for the industry, both cementing the market position for platinum jewellery and significantly enhancing the value of palladium as a jewellery metal in its own right.

Stillwater Mining Company is the only U.S. producer of palladium and platinum and is the largest primary producer of platinum group metals outside of South Africa and Russia. The Company's shares are traded on the New York Stock Exchange under the symbol SWC. Information on Stillwater Mining Company can be found at its web site: www.stillwatermining.com.

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