Balen, Belgium (22 January 2009) - In the course of preparing the 2008 financial statements, Nyrstar NV has completed an impairment review of the carrying value of its various reporting segments. The review has been undertaken in accordance with International Accounting Standard 36 (IAS 36) and was triggered by the fall of the Company's market capitalisation below its net asset value coupled with the adverse market conditions in the second half of 2008. The review was carried out using a variety of data, including recent externally sourced forecasts on future metal prices.

The outcome is a total impairment charge of €575 million. This includes €234 million of goodwill created at the time of Nyrstar's formation and the value of property, plant and equipment at Balen and Port Pirie, which have been lowered by €247 million and €94 million respectively.

Although the impairment is a non-cash charge, it will adversely affect the distributable reserves of the Company and eliminate the possibility to declare a 2008 dividend.

Nyrstar continues to have a robust financial position and currently has a consolidated net cash position in excess of €150 million. The Company is trading comfortably within its debt financing covenants.

Paul Fowler, chief executive officer of Nyrstar, commented, "Whilst this exercise has resulted in a reduction in book value, it has also provided confirmation that the value of the company, based on expected future cash flows using externally available forecasts for metal prices, remains substantially above our current market capitalisation."

Nyrstar's annual results for the year ended 31 December 2008 will be announced on Friday 27 February 2009.