Results of Extraordinary General Meeting

11.04.2012, Moscow. OAO Severstal (“Severstal”, “the Company”), one of the world’s leading vertically integrated steel and steel related mining companies, announces the results of voting on the resolutions proposed at its EGM held on 10 April 2012.

As announced on 29 February 2012, Severstal’s Board of Directors passed a resolution to convene an EGM to approve the cancellation of 170 million Severstal shares through the legal procedure of a public cash tender offer (the "Offer"), as required by the Russian JSC law. For more information please see the announcement dated 29 February 2012 at: http://www.severstal.com/eng/ir/disclosers/rns/document5998.phtml

The following resolution was approved by Severstal's shareholders at the EGM:

-          To acquire up to 170 million Company shares through the legal procedure of a public cash tender offer with the offer price of RUB 390 per share. The Offer will be open for acceptance from 21 May 2012 to 19 June 2012 with the exercise period from 25 June 2012 to 04 July 2012.

Owners of ordinary shares can obtain the terms of participation in the Offer in the Information Memorandum that will be released at www.severstal.com before 20 April 2012 and also available from ZAO Invest Telecom which consults owners of ordinary shares of OAO Severstal. GDR holders can obtain information from the Notice to GDR holders that will be distributed by Deutsche Bank Trust Company Americas not later than 20 April 2012 and available from Deutsche Bank Trust Company Americas which consults owners of GDRs of OAO Severstal.

Contacts for general enquiries:

Severstal Investor Relations

Vladimir Zaluzhsky

T: +7 (495) 926-77-66

vladimir.zaluzhsky@severstal.com

Severstal Public Relations

Elena Kovaleva

T: +7 (495) 926-77-66

elena.kovaleva@severstal.com

Contacts for ordinary shares owners:

National “hotline”: 8-800-100-39-64;

ZAO Invest Telecom centres for shareholder requests:

·         Moscow: Trubnaya Street, 21, 3rd entrance, 3rd floor, phone: 8-495-961-24-82;

·         Cherepovets, phone: 8-8202-53-22-97.

Contacts for GDR holders:

Deutsche Bank Trust Company Americas

Ms. Beverly George

Email: beverly.a.george-ny@db.com

Phone: +1 (212) 250-1504.