Notice of AGM

29 April 2010

OAO Severstal

Notice of Annual General Meeting of Shareholders

OAO Severstal announces that on 29 April 2010 the Company's Board of Directors approved the following agenda for the 2009 AGM to be held on 11 June 2010:

·; Re-election of the members of the Board of Directors of OAO Severstal

·; Re-election of the CEO of OAO Severtsal

·; Approval of the annual report and annual accounting report including the income statement report

·; Distribution of profits for the year ended 31 December 2009

·; Re-election of the members of check-up committee of OAO Severstal

·; Approval of an auditor for OAO Severstal

·; Approval of Board Directors' compensation

The Board of Directors recommended that profit for 2009 should not be distributed and that a dividend for 2009 should not be paid.

The Board of Directors agreed that the Company's AGM will be held at 41 Mateallurgists Palace, Stalevarov street, Cherepovets, Vologda Region, Russia

Registration for the AGM will start at 11.00 a.m. (MT)

The AGM will start at 12.00 p.m. (MT)

For further information:

Severstal

Dmitry Druzhinin, Investor Relations

Olga Antonova, Public Relations

+7 495 926 7766

OAO Severstal is an international metals and mining company with a listing on the Russian Trading System, Moscow Interbank Currency Exchange and the London Stock Exchange. Incorporated in 1993, the company focuses on high value added and unique niche products and operates high-quality assets in Russia, North America and Europe.