Agenda for AGM and Q1 2012 dividend payments

22 May 2012

OAO Severstal

Agenda for Annual General Meeting ("AGM") and recommendation of Q1 2012 dividend payments

22.05.2012, Moscow. ОАОSeverstal ('Severstal') (LSE: SVST; MICEX-RTS: CHMF), one of the world's leading vertically integrated steel and steel-related mining companies, announces that the Board has approved the following agenda for the 2011 AGM to be held in Cherepovets, Russia on 28 June 2012:

- Re-election of the members of the Board of Directors of Severstal

- Approval of the annual report and annual accounting report including the income statement report

- Distribution of profits for the year ended 31 December 2011. Dividend payments for FY 2011

- Dividend payments for Q1 2012

- Election of the members of the Internal Audit Committee

- Approval of the Auditor for Severstal

- Approval of a potential interested party transaction (deposit placement)

The Board recommended a dividend of 4.07 rubles (approximately $0.13) per share in respect of the first three months of the financial year to 31 March 2012. The record date was 15 May 2012.

The Company's AGM will be held at 41 Metallurgists' Palace, Stalevarov street, Cherepovets, Vologda Region, Russia. Registration for the AGM will start at 11.00 am. (MT). The AGM will start at 12.00 pm. (MT). As previously announced, the record date for the AGM was 15 May 2012.

Enquiries: 

Severstal Investor Relations

Vladimir Zaluzhsky

T: +7 495 926 7766

Severstal Public Relations

Elena Kovaleva

T: +7 (495) 926-77-66

Hudson Sandler (Financial Communications Adviser)

Andrew Hayes / Andrew Leach / Maria Ignatova / Alex Brennan

T: +44 (0) 20 7796 4133

ОАО Severstal is one of the world's leading vertically integrated steel and steel related mining companies, with assets in Russia, the USA, the Ukraine, Latvia, Poland, Italy, Liberia and Brazil. Severstal is listed on RTS and MICEX and the company's GDRs are traded on the LSE. Severstal reported revenue of $15,812 million and EBITDA of $3,584 million in 2011. Severstal's crude steel production in 2011 reached 15.3 million tonnes. www.severstal.com