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Mechel Announces Appointment of New Managing Director at Its Trade Port Posiet OAO Subsidiary

Moscow, Russia – October 1, 2008 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announces the appointment of Igor I. Prischepov as a Managing Director at its Trade Port Posiet OAO subsidiary.

Previously, Mr. Prischepov (50) was Chief Engineer of Mechel’s Trade Port Posiet OAO subsidiary from June to September 2008. From 1982 to 2008, Mr. Prischepov held various positions at the Murmansk Sea Port, elevating to the position of Chief Engineer. From 1980 to 1982, he worked as an electric equipment operator and maintenance craftsman at Krichevcementoshifer production association.

Mr. Prischepov graduated from the Belorussian Polytechnic Institute receiving the Order of the Red Labor Banner with a degree in Electric Power Supply of Industrial Enterprises, Cities, and Agriculture.

“Trade Port Posiet has an important role in the structure of Mechel’s transportations, as it handles Mechel’s coal deliveries to markets in the Asia-Pacific region. Therefore, we pay special attention to all aspects of the port’s development. I am confident that such an experienced specialist as Igor Prischepov will successfully manage the reconstruction and technical re-equipment of Port Posiet, whose annual freight turnover is planned to reach 7 - 9 million tones a year. Moving forward, we expect the port’s implementation of new technologies and equipment will continue to increase,” Mechel Management OOO Chief Executive Officer Vladimir Polin noted.

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Mechel OAO
Ilya Zhitomirsky
Phone: + 7 495 221 88 88
ilya.zhitomirsky@mechel.com

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Mechel is one of the leading Russian companies. Its business includes three segments: mining, steel, and power. Mechel unites producers of coal, iron ore concentrate, nickel, steel, rolled products, hardware, heat and electric power. Mechel products are marketed domestically and internationally.

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Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Mechel, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements. We refer you to the documents Mechel files from time to time with the U.S. Securities and Exchange Commission, including our Form 20-F. These documents contain and identify important factors, including those contained in the section captioned “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in our Form 20-F, that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of our recent acquisitions, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of our shares or ADRs, financial risk management and the impact of general business and global economic conditions

 

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