Disposal

26 Sep 2006 07:04

OJSC Novolipetsk Steel26 September 2006 Novolipetsk Steel (NLMK)26 September 2006 Novolipetsk Steel (NLMK) completes the disposal of KMA Ruda Further to the announcement on August 16th, 2006, Novolipetsk Steel (LSE: NLMK),a leading Russian steel producer, has completed the disposal of its stake of92.04% (236,605 ordinary shares) in OJSC "KMA Ruda". As stated previously, thedeal is valued at USD 300 million in cash. The 59.99 % interest in KMA Ruda wassold to OJSC "KOKS" and 32.04 % interest was sold to Lesser Enterprises LimitedCompany for USD 195.5 and 104.5 million respectively. This disposal is in line with NLMK's recently announced sustainable growthstrategy for 2007-2011. One of the key elements of the strategy is unlocking thevalue of non-strategic assets. 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