Acquisition Update

15 Feb 2008 17:09

OJSC Novolipetsk Steel15 February 2008 NLMK COMMENTS ON THE FEDERAL ANTIMONOPOLY SERVICE (FAS) STATEMENT REGARDING MAXIGROUP ACQUISITION OJSC Novolipetsk Steel (LSE: NLMK), the leading Russian steel producer, notesthe media reports of the refusal of the Federal Antimonopoly Service (FAS) togrant NLMK permission to acquire the Maxi-Group. NLMK wishes to clarify thefollowing points: The FAS rejection of NLMK's request to acquire the Maxi-Group was caused bytechnical mistakes in the information supplied to the FAS. Specifically, thefiling lacked information about the agreement for NLMK to acquire a 50% plus oneshare stake in Maxi-Group. NLMK will not dispute possible administrative finesthat may arise from this oversight. NLMK will correct these technical mistakesand will submit a replacement request to the FAS. NLMK notes that the FAS refusal does not relate to the nature of thetransaction. For further information: NLMKAnton Bazulev +7 495 915 1575 Financial DynamicsJon Simmons +44 207 831 3113 This information is provided by RNS The company news service from the London Stock Exchange