Mechel OAO Announces Inclusion of Its Shares on MICEX Quotation List

MOSCOW, Oct. 9 /PRNewswire-FirstCall/ -- Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announces inclusion of its ordinary registered book-entry shares on MICEX quotation list V.

On October 9, 2008, MICEX Stock Exchange closed joint-stock company approved the inclusion of Mechel OAO ordinary registered book-entry shares, state registration number 1-01-55005-E as of April 29, 2003, on the list of securities for trading on the MICEX exchange.

The amount of Mechel OAO ordinary shares issued totals 416,270,745.

Inclusion of Mechel OAO shares on quotation list V provides a significantly larger scope of investors with the opportunity to buy securities of the company.

Mechel OAO ordinary registered shares have been listed on RTS OAO quotation list B since June 29, 2004 and the company's ADRs have traded on the New York Stock Exchange since October 29, 2004.

"With Mechel OAO shares already trading on the New York Stock Exchange, one of the world's most prestigious trading floors, the decision to include Mechel shares on the MICEX quotation list confirms the appreciation of the company's activity and prospects by Russian investors as well. This listing provides the potential for increased liquidity of our securities and additional opportunity for continued implementation of Mechel's strategic investment program," Mechel OAO Chief Financial Officer Stanislav Ploschenko commented.

Mechel is one of the leading Russian companies. Its business includes three segments: mining, steel, and power. Mechel unites producers of coal, iron ore concentrate, nickel, steel, rolled products, hardware, heat and electric power. Mechel products are marketed domestically and internationally.

Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Mechel, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements. We refer you to the documents Mechel files from time to time with the U.S. Securities and Exchange Commission, including our Form 20-F. These documents contain and identify important factors, including those contained in the section captioned "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in our Form 20-F, that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of our recent acquisitions, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of our shares or ADRs, financial risk management and the impact of general business and global economic conditions.

SOURCE Mechel OAO