China Representative Office to Focus on Improving Business

Beijing – November 17, 2008 – OAO SeverStal, one of the world’s leading metals and mining companies, has opened its first China representative office in Beijing.

The representative office will enable Severstal to consolidate its existing Chinese procurement activities, explore ways to partner with Chinese stakeholders and facilitate the exchange of knowledge and expertise between markets

Jake Oliver, Senior Vice President of Severstal, said: “I am delighted to announce the opening of our first office in China. We are looking forward working closely with Chinese stakeholders, sharing our knowledge and techniques and learning more about the opportunities in this market.”

About SeverStal:

OAO SeverStal is an international metals and mining company with a listing on the Russian Trading System and the London Stock Exchange. Incorporated in 1993, the company focuses on high value added and unique niche products and has a successful track record of acquiring and integrating high-quality assets in North America and Europe. SeverStal owns mining assets in Russia, thus securing its supplies of raw materials. In 2007, SeverStal produced 17.5 million tons of steel. Revenues were $15.2 billion and EBITDA was $3.7 billion. EPS was $1.92.

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