Severstal Announced Record Date Clarification

Severstal, JSC has been advised by its subsidiary, Lybica Holding B.V., that in connection with the exchange by Lybica of the global depositary receipts (GDRs) representing shares of its subsidiary, Nord Gold N.V., for Severstal shares and Severstal GDRs (the “Exchange”) to facilitate participation in the Exchange by investors who purchased Severstal shares or Severstal GDRs from and including 25th November 2011 to and including 29th November 2011 (the “Pre-Announcement Period”), Lybica intends to:

• treat such Severstal GDR holders as eligible to participate in the Exchange with respect to the number of Severstal GDRs acquired during the Pre-Announcement Period provided the relevant trades settled on or prior to 2 December 2011 (correspondingly, the sellers of such Severstal GDRs will not be treated as eligible with respect to the number of Severstal GDRs sold during the Pre-Announcement Period);

• treat such Severstal shareholders as eligible to participate in the Exchange with respect to the number of Severstal shares acquired during the Pre-Announcement Period provided their holdings are recorded at any time during the period from the close of trading on 29 November 2011 to and including 2 December 2011 (correspondingly, the sellers of such Severstal shares will not be treated as eligible with respect to the number of Severstal shares sold during the Pre-Announcement Period).

Lybica intends to issue an addendum to the Exchange document in connection with the above. The addendum and the Exchange document will be made available to qualifying shareholders in Russia through CJSC Invest-Telecom, and to GDRs holders through Deutsche Bank.