September 08, 2008

Severstal board recommends dividend

Severstal has announced that its Board of Directors, held on November 22nd to 23rd 2007, recommended a dividend of RUB 2.50 per share and per global depositary receipt for the nine months 2007 with the record date of November 14th 2007. Each GDR represents one share in the Company.

Approval of the dividend payment is expected at the company's EGM on December 20th 2007.