Clinton Group Comments on Stillwater Board's Belated Decision to Abide By Equity Incentive Plan, to Rescind Improper Payments to the CEO

Clinton Group, Inc. ("Clinton"), a stockholder of Stillwater Mining Company SWC that is seeking to replace the Board of Stillwater with independent professionals, today commented on the Company's decision to rescind stock grants to the Company's Chief Executive Officer, Frank McAllister. On Mr. McAllister's watch, Stillwater stock has declined by 66%. A stockholder had sued each of the Board members personally claiming they had repeatedly approved grants of restricted stock to Mr. McAllister in violation of the Company's 2004 Equity Incentive Plan. This morning, the Board announced it was rescinding three separate restricted stock grants (from 2009, 2010 and 2012) to Mr. McAllister. "It is truly astonishing that the Stillwater Board of Directors is unable to oversee the Company in a manner consistent with the Company's own corporate documents, such as its equity plan," said Gregory P. Taxin, Managing Director of Clinton. "Until a stockholder sued the Board members personally, the directors were oblivious to the violation or perfectly content to allow Mr. McAllister to benefit improperly from excessive grants at the expense of investors. This Board needs to be turned out by stockholders and a new Board should be seated." For more information on Clinton's efforts to replace the Board of Directors at Stillwater, please go to http://www.tapstillwater.com. The Stillwater annual meeting is scheduled to be held on May 2, 2013. Clinton urges its fellow stockholders to use the GREEN proxy card when voting at this year's annual meeting and to vote for the Clinton nominees. If you have any questions or require any assistance in delivering your proxy, please contact Okapi Partners LLC at 437 Madison Avenue, 28th Floor, New York, New York 10022 or (212) 297-0720 or Toll-Free (855) 305-0857.