MECHEL COMPLETES ITS PREFERRED SHARES PLACEMENT


Moscow, Russia – April 3, 2009 – Mechel OAO (NYSE: MTL), one of the leading
Russian mining and metals companies, announces the completion of the open
subscription placement of its preferred shares.
The preferred shares placement was completed April 2, 2009, when the procedures
of payment and transition of shares to the buyer occurred. During the placement
process only one offer to purchase the preferred shares of the Company was
submitted. The preferred shares were purchased by one of Mechel’s subsidiaries,
Skyblock Limited. According to the international financial reporting standards
of US GAAP used by the Company, the issued shares have become treasury stocks.
Placement of the preferred shares through public offering in amount of
138,756,915 started on April 1, 2009. In compliance with the resolution of
Mechel OAO’s Board of Directors, the nominal value of each preferred registered
book-entry share is RUR10.0 (about USD0.3).

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Mechel OAO
Ilya Zhitomirsky
Phone: + 7 495 221 88 88
ilya.zhitomirsky@mechel.com
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Mechel is one of the leading Russian companies. Its business includes four
segments: mining, steel, ferroalloy and power. Mechel unites producers of coal,
iron ore concentrate, steel, rolled products, ferroalloys, hardware, heat and
electric power. Mechel products are marketed domestically and internationally.
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Some of the information in this press release may contain projections or other
forward-looking statements regarding future events or the future financial
performance of Mechel, as defined in the safe harbor provisions of the U.S.
Private Securities Litigation Reform Act of 1995. We wish to caution you that
these statements are only predictions and that actual events or results may
differ materially. We do not intend to update these statements. We refer you to
the documents Mechel files from time to time with the U.S. Securities and
Exchange Commission, including our Form 20-F. These documents contain and
identify important factors, including those contained in the section captioned
“Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in our
Form 20-F, that could cause the actual results to differ materially from those
contained in our projections or forward-looking statements, including, among
others, the achievement of anticipated levels of profitability, growth, cost and
synergy of our recent acquisitions, the impact of competitive pricing, the
ability to obtain necessary regulatory approvals and licenses, the impact of
developments in the Russian economic, political and legal environment,
volatility in stock markets or in the price of our shares or ADRs, financial
risk management and the impact of general business and global economic
conditions.