Publication of Prospectus

Not for release, publication or distribution in whole or in part, directly or indirectly, in or into the United States of America.

Publication of Prospectus

The following Prospectus is available for viewing: Moscow, Russia – March 15, 2013 - OAO Severstal hereby informs that the attached document (the "Base Prospectus"), which relates to the US$4,500,000,000 loan participation note programme for the issuance of loan participation notes by, but with limited recourse to, Steel Capital SA, being an affiliated company of OAO Severstal and incorporated under the laws of Luxembourg as a société anonyme, for the sole purpose of financing loans to OAO Severstal, has been approved as a prospectus by the Central Bank of Ireland in its capacity as competent authority under Directive 2003/71/EC. The Base Prospectus will shortly be available for inspection on the website of the Central Bank of Ireland at http://www.centralbank.ie. To view the Base Prospectus in full, please paste the following URL into the address bar of your browser.

http://www.rns-pdf.londonstockexchange.com/rns/1609A_-2013-3-15.pdf