Dividend Payment for 9 Months 2011

OAO Severstal

The Board recommends dividend payment for the 9 months ended 30 September 2011

06.12.2011, Moscow. The Board of ОАО Severstal ("the Company") (LSE: SVST), one of the world's leading vertically integrated steel and mining companies, is recommending a dividend of 3.36 rubles (approximately $0.11) per share for the first nine months of the financial year to 30 September 2011. As previously announced, the record date was 15 November 2011.

The dividend payment is subject to approval at the Company's EGM which will take place on 30 December 2011.

For further information:

Vladimir Zaluzhsky

T: +7 (495) 926-77-66 ext. 6375