Re-election of Chairman of the Board

OAO Severstal (“Severstal”; “the Company”), one of the world’s leading vertically integrated steel and steel-related mining companies, announces that its Board of Directors has re-elected Mr. Christopher Clark as Chairman of the Board of Directors of Severstal. Christopher Clark is an Independent Non-Executive Director and a member of the Nomination and Remuneration Committee. He has been Chairman of the Board of Directors of Severstal since December 2006.