EGM Results

Result of Extraordinary General Meeting (EGM)

21.12.2010, Moscow

OAO Severstal ("Severstal") (LSE: SVST; RTS: CHMF), one of the world's leading vertically integrated steel and mining companies, announces the results of voting on the resolutions proposed at the EGM held on 20 December 2010.

The following resolutions were put to Severstal's shareholders at the EGM, and the results of voting were as follows: a) to approve a dividend for the first nine months of the financial year to 30 September 2010 of 4.29 ruble (approximately $0.14) per common share and per global depositary receipt ("GDR") payable before 18 February 2010 to shareholders on the share register as at 12 November 2010; b) to approve changes to the company Charter; c) to join the OOR "Russian Union of Industrialists and Entrepreneurs".

The starting date for dividend payments will be 21 December 2010.

Holders of the Company's GDRs may contact Deutsche Bank Trust Company Americas for the related GDRs' record date and payment date.

For further information please contact:

Severstal, Investor Relations

Vladimir Zaluzhsky

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

[email protected]