Consent Solicitation Results

4 February 2011

OAO TMK Consent Solicitationwith respect to the TMK Capital S.A.U.S.$600,000,000 10.00 per cent. Loan Participation Notes due 2011 (of which U.S.$186,700,000 is currently outstanding)

NOTICE IS HEREBY GIVEN in respect of the U.S.$600,000,000 10.00 per cent. Loan Participation Notes due 2011 (ISIN: XS0373732063) (the "Notes") (of which U.S.$186,700,000 is currently outstanding) issued by TMK Capital S.A. (the "Issuer") for the sole purpose of financing a loan to OAO TMK, such loan unconditionally and irrevocably guaranteed by OAO Volzhsky Pipe Plant, ZAO TMK Trade House, OAO Seversky Tube Works, OAO Sinarsky Pipe Plant, OAO Taganrog Metallurgical Works and IPSCO Tubulars Inc., that at a meeting held at 4.00 p.m. (London time) on 4 February 2011 of the holders (the "Noteholders") of the Notes constituted by a trust deed dated 29 July 2008 (the "Trust Deed") made between the Issuer and Deutsche Trustee Company Limited as trustee for the Noteholders, the Extraordinary Resolution detailed in the Notice of Meeting dated 13 January 2011 and referred to in an announcement made by OAO TMK on 14 January 2011 was passed.