July 05, 2008

Mechel announces decisions of extraordinary shareholders’ meeting

Russian Mechel OAO announces that its Extraordinary Shareholders’ Meeting was held on April 30th 2008. At the meeting, the shareholders adopted a resolution on the declared preferred registered book entry shares of Mechel OAO, which are 138,756,915 shares with the nominal value of RUB 10.00 each share for a total of RUB 1,387,569,150.00, which the Company may potentially issue.

The shareholders also approved modifications and additions into the Charter of Mechel OAO connected with introducing provisions into the Charter concerning declared preferred shares and rights these shares entitle their owners.

The preferred registered book entry shares entitle their owners to the rights provided for in Article 11 of the Company’s Charter with respect to all modifications into the Charter approved at the meeting.