Russian ruble bond programme

OAO Severstal

Board approves Russian Ruble bond programme

21.06.2012, Moscow. OAO Severstal ('Severstal' or the 'Company), one of the world's leading steel and steel related mining companies, announces that the Board of Directors has approved the launch of a Russian Ruble bond programme which provides the Company with the potential to issue up to RUB 80 billion. The launch of this programme is a technical procedure to facilitate Severstal's potential access to debt capital markets and would be primarily used to refinance the Company's debt portfolio. Severstal launched a similar bond programme in 2009 with the potential to issue up to RUB 45 billion.

Enquiries: 

Severstal Investor Relations

Vladimir Zaluzhsky

T: +7 495 926 7766

Severstal Public Relations

Elena Kovaleva

T: +7 (495) 926-77-66

Hudson Sandler (Financial Communications Adviser)

Andrew Hayes / Andrew Leach / Maria Ignatova / Alex Brennan

T: +44 (0) 20 7796 4133

ОАО Severstal is one of the world's leading vertically integrated steel and steel related mining companies, with assets in Russia, the USA, the Ukraine, Latvia, Poland, Italy, Liberia and Brazil. Severstal is listed on MICEX-RTS and the company's GDRs are traded on the LSE. Severstal reported revenue of $15,812 million and EBITDA of $3,584 million in 2011. Severstal's crude steel production in 2011 reached 15.3 million tonnes. www.severstal.com