Board recommends dividend payment for Q3 2012

OAO SEVERSTAL

The Board recommends Dividend payment for 9 months to 30 September 2012

Moscow, Russia - November 13, 2012 - The Board of Directors of OAO Severstal ('the Company') (LSE: SVST; MICEX-RTS: CHMF), one of the world's leading vertically integrated steel and steel-related mining companies, is recommending a dividend of 3.18 rubles (approximately $0.10) per share for the nine months to 30 September 2012.

Approval of the dividend is expected at the Company's EGM that, as announced on 30 October 2012, will take place on 20 December 2012. The record date for both participation in the EGM and for dividend payments for the 9 months ended 30 September 2012 was 9 November 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

T: +44 (0) 20 7796 4133