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Mechel Announces Intention to Acquire Shares of Southern Kuzbass OAO, Korshunov Mining Plant OAO and Southern Urals Nickel Plant OAO From Minority Shareholders

Posted on: Friday, 20 June 2008, 12:00 CDT

MOSCOW, June 20 /PRNewswire-FirstCall/ -- Mechel OAO , one of the leading Russian mining and metals companies, announces its intention to acquire remaining shares of Southern Kuzbass OAO, Korshunov Mining Plant OAO and Southern Urals Nickel Plant OAO from minority owners of these subsidiaries.

The present invitation to make offers is addressed to any number of unspecified persons and corresponds to the clause 1 of the article 437 of the Russian Federation Civil Code and is not a public offer.

Persons interested in selling the shares of the above subsidiaries which they own, may send those offers to the e-mail address: irina.ipeeva@mechel.com. The form for making offers may be obtained through Mechel's website at http://www.mechel.com/.

Mechel will begin to review the offers on the day following this announcement. If the day falls on a weekend or a holiday specified by the legislation of the Russian Federation, the review of offers would begin on the first business day after it.

The period of acceptance of offers is 30 (thirty) days. Mechel OAO is entitled to stop the acceptance of offers before the end of the specified period by publication of the corresponding announcement on the Company's website. If a person interested in selling their shares does not receive any official answer in 15 days period since the date of sending their offer, the offer is considered to be voided by Mechel OAO and does not imply any mutual civil rights to both parties.

Contact telephone: +7 (495) 221-88-88 (ext. 2623), Department of Corporate Administration and Property Mechel OAO

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.

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

Web site: http://www.mechel.com/

Source: PRNewswire-FirstCall

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