MMK Submitted 2011 Financial Statements to FSA

Open Joint Stock Company

Magnitogorsk Iron and Steel Works

Press Release

May 17, 2012

MMK Group Submitted 2011 Financial Statements to FSA

MMK (MMK:LI) announces that a copy of 2011 Financial Statements has been submitted to the UK Financial Services Authority (FSA).

Please note that the submitted copy of the Financial Statements includes correction of a technical error, which has not impacted financial results of MMK Group. The updated version of the Financial Statements is available at www.mmk.ru from 20 April 2012

MMK 2011 Financial Statements can be found at:

http://eng.mmk.ru/for_investor/financial_statements/

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About MMK

MMK is among the world's largest steel producers and is one of the leaders of Russia's steel industry. The company's operations in Russia include a large steel producing complex encompassing the entire production chain, from preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of higher value added products. In 2011 MMK Group produced 12.2 mln tons of crude steel and 11.2 mln tons of commercial steel products. The MMK Group's revenue in 2011 totalled USD 9.306 bln, with EBITDA at USD 1.336 bln. 

Investor Relations Department:

Andrey Serov, Head of IR

tel.: +7 (3519) 24-52-97

E-mail: [email protected]

MMK Communications Department