Mechel Announces Decision of The Board of Directors

At a meeting of the Mechel Board of Directors held on September 18, 2007, the Board adopted a resolution on the Management Board membership. The following persons were elected members of the JSC Mechel Management Board:

Igor Zyuzin, Mechel CEO and new Management Board Chairman; Alexey Ivanushkin, Mechel COO; Stanislav Ploschenko, Mechel acting CFO; Victor Trigubko, Mechel Senior Vice President for Government Relations; Irina Ipeeva, Mechel Director of Department of Corporate Management and Property; Evgeny Mikhel, Mechel Vice President for Legal Affairs; Oleg Rozenberg, Mechel Management Deputy CEO for Foreign Trade; Elena Selivanova, Mechel Management Director of Human Resources Department; Elena Tuvaeva, Mechel Management First Deputy CEO.

The resolution approving the "Bylaw on the Collegial Executive Body (Management Board)" of JSC Mechel was adopted by the Extraordinary General Shareholders’ Meeting of Mechel conducted on August 6, 2007. The creation of the Management Board enables the Company’s management team to take decisions after consultation with the members of the Management Board of the most important business of the Company.