Announcement of EGM

OAO Severstal, one of the world’s leading vertically integrated steel and steel related mining companies, announces that the Board of Directors have called an EGM to be held by absentee voting on December 30, 2011.  The following agenda for the EGM was approved by the Board:

1.            Dividend payments for the first 9 months of 2011.

2.            Approval of the revised OAO Severstal Charter.

The proposed changes in the Charter relate to new Russian legislation on insider information.

The closing date for the receipt of voting ballots is December 30, 2011. All Severstal shareholders on the register as at November 15, 2011 are eligible to participate.