Result of Extraordinary General Meeting (EGM)

OAO Severstal (“Severstal”), one of the world’s leading vertically integrated steel and steel related mining companies, announces the results of voting on the resolutions proposed at the EGM held on 30 December 2011.

The following resolutions were approved by Severstal's shareholders at the EGM:

a) dividend for the first nine months of the financial year to 30 September 2011 of 3.36 ruble (approximately $0.11) per common share and per global depositary receipt (“GDR”) payable before 29 February 2012 to shareholders on the share register as at 15 November 2011;

b) changes to the company Charter.

Holders of the Company's GDRs may contact Deutsche Bank Trust Company Americas for the related GDRs’ record date and payment date.

For further information please contact:

Severstal, Investor Relations

Vladimir Zaluzhsky

T: +7 (495) 926-77-66 ext. 6375