Agenda for AGM and Q1 2011 dividend payments

12 May 2011

OAO SEVERSTAL

Agenda for 2010 Annual General Meeting ("AGM") and recommendation of Q1 2011 dividend payments

OAO Severstal ("the Company"), one of the world's largest vertically integrated steel and mining companies, today announces that the Board of Directors approved the following agenda for the 2010 AGM to be held in Cherepovets, Russia on 27 June 2011:

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

- Approval of the annual report and annual accounting report including the income statement report

- Distribution of profits for the year ended 31 December 2010. Dividend payments for 2010

- Dividend payments for Q1 2011

- Re-election of the members of the audit committee of OAO Severstal

- Approval of the auditor for OAO Severstal

- Approval of changes in the Board Directors' remuneration

The Board recommended a dividend of 3.90 rubles (approximately $0.14) per share in respect of the first three months of the financial year to 31 March 2011. The record date is 22 May 2011.

The Company's AGM will be held at 41 Metallurgists' Palace, Stalevarov street, Cherepovets, Vologda Region, Russia. Registration for the AGM will start at 12.00 a.m. (MT).The AGM will start at 13.00 p.m. (MT). The record date for the AGM is 22 May 2011.

For further information: 

Severstal

Vladimir Zaluzhsky

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

Hudson Sandler (Financial Communications Adviser)

Andrew Hayes / Andrew Leach / Maria Ignatova

T: +44 (0) 20 7796 4133

ОАО Severstalis one of the world's largest vertically integrated steel and mining companies. With assets in Russia and other CIS countries, the USA, Europe and Africa, Severstal reported revenue of $13,573 million and EBITDA of $3,263 million in 2010. Severstal's crude steel production in 2010 reached 14.7 million tonnes. Severstal also produced 589 koz of gold at its gold mining assets in West Africa, Kazakhstan and Russia. The Company is listed on RTS and MICEX, the Company's GDRs are traded on LSE.