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Mechel Announces Appointment of New Managing Director at Its Korshunov Mining Plant Subsidiary

Posted on: Monday, 3 December 2007, 09:00 CST

ZHELEZNOGORSK-ILIMSKIY, Russia, Dec. 3 /PRNewswire-FirstCall/ -- Mechel OAO , one of the leading Russian mining and metals companies, announces that its executive entity, Mechel Management OOO, passed a resolution to appoint Yuriy Efimenko as Managing Director at its Korshunov Mining Plant OAO subsidiary.

Yuriy Efimenko, 51, was appointed Managing Director succeeding Konstantin Sen, who has been appointed Korshunov Mining Plant's Development Director.

"Yuriy Efimenko is a highly qualified mining specialist. During his years of work with Mechel, he proved to be a gifted executive and efficient production officer. I am confident that his experience and knowledge will positively affect business and economic activities of Korshunov Mining Plant, which is set with the objective to continue development of production while increasing its efficiency," Mechel Management OOO Chief Executive Officer Vladimir Polin said.

Prior to his appointment as Managing Director at the Korshunov Mining Plant, Mr. Efimenko held positions in Mechel's Southern Kuzbass OAO subsidiary including Human Resources Director from May 2007 to November 2007, Director of Sibirginsk Open Pit Mine from 2005 to 2007 and Technical Director, Deputy Director-Operations, Section Manager of Sibirginsk Open Pit Mine from 1989 to 2005. Mr. Efimenko graduated from Kuzbass Polytechnic University, Kemerovo, with the specialty of Mining Foreman.

Mechel is one of the leading Russian mining and metals companies. Mechel unites producers of coal, iron ore, nickel, steel, rolled products, and hardware. Mechel products are marketed domestically and internationally.

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.

Mechel OAO

CONTACT: Ilya Zhitomirsky of Mechel OAO, +7-495-221-88-88,ilya.zhitomirsky@mechel.com

Source: PRNewswire-FirstCall

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