Press Releases

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Mechel announces that it has won the auction for privatization of a blocking stake in Yakutugol

Yakutsk, Russia – January 24, 2005 – Mechel has won an auction for the sale of ordinary shares in Open Joint Stock Holding Company Yakutugol that constitute 25 % + 1 share of the company's Charter capital.

Mechel announces new appointments

Moscow, Russia –January 19, 2005 – Mechel (NYSE: MTL) announces new appointments in its management.

Mechel And UFG Announce the Sale of Mechel’s Shareholding in Magnitogorsk Iron & Steel Works OJSC to a Consortium of Investors

Moscow, Russia - December 21, 2004 – Mechel (NYSE: MTL) and U.F.G.I.S. Trading Ltd., a company of the UFG Group (“UFG”), acting for a consortium of investors, today concluded an agreement for the sale by Mechel of its entire shareholding in Magnitogorsk Iron & Steel Works OJSC (“MMK”) to the consortium for $780 million. Mechel and UFG also signed a mutual release agreement in which all potential claims between Mechel, on one hand, and MMK and its other shareholders, on the other, are waived in return for a payment of $90 million to Mechel. In accordance with the terms of the agreement, full payment in the amount of $870 million was made and the transfer of shares completed today.

Mechel Holds an Extraordinary General Shareholders' Meeting

Moscow, Russia – December 21, 2004 – Mechel (NYSE: MTL) announces results of an Extraordinary General Shareholders' Meeting held on December 20, 2004.

Mechel Holds an Extraordinary General Shareholders' Meeting

Moscow, Russia – December 24, 2004 – Mechel (NYSE: MTL) announces results of the Extraordinary General Shareholders' Meeting.

Mechel announces a conference call

Moscow, Russia - December 9, 2004 - Mechel Steel Group (NYSE: MTL) announces a conference call, organized by Brunswick UBS, with senior management of the company who will speak on the situation regarding the latest developments.

Mechel issues statement regarding Ministry of internal affairs investigation

Moscow, Russia - December 8, 2004 - Mechel Steel Group (NYSE: MTL) issued the following statement today regarding the requests for information that it has received from the Ministry of Internal Affairs:

Mechel announces attempts to prevent its participation in the MMK auction

Mechel Steel Group (NYSE: MTL) announces that a subdivision of the Ministry of Internal Affairs collected commercial information from its subsidiary, Mechel Trading House on December 6 and 7, 2004.

Mechel Announced its Winning of Auctions to Develop New Coking Coal Mine Areas

Kemerovo, Russia – December 2, 2004 – Southern Kuzbass Coal Company, a subsidiary of Mechel , has won two auctions for the right to use subsoil plots for coking coal exploration and mining at the Raspadsky Open Pit Mine and Berezovsky-2 areas, with total reserves of 55.5 million tons according to Russian reserve valuation standards . In total, Mechel has increased its reserves of coking coal by over 120 million tons in the last month.

Mechel Announces The Exercise Of The Greenshoe Option Related To Its IPO On The New York Stock Exchange

Moscow, Russia – November 29, 2004 – Mechel (NYSE: MTL), a Russian metals and mining company, announced today that the global coordinator for its IPO has fully exercised its option to place an additional 2,081,354 American Depositary Shares (ADS), representing 6,244,062 ordinary shares, at the price of the IPO of $21.00 per one ADS.