MMK reports payment of dividends for 12M 2009

Open Joint Stock Company

Magnitogorsk Iron and Steel Works

Press-release

January 11, 2011

MMK reports payment of dividends for 12 months 2009

OJSC MMK announces that as of Dec 31, 2010 it has paid out dividends for 12 months of 2009. The decision on dividend payment in the amount of RUR 0.37 per ordinary share (incl. tax) was taken by the Annual General Shareholders' Meeting on May 21, 2010. The total amount of dividends paid is RUR 4.134.039.721,77

About MMK

The Open Joint Stock Company MMK is among the world's largest steel producers and is one of the leaders of Russia's steel industry. The company's operations in Russia include a large steel producing complex encompassing the entire production chain, from preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of higher value added products. MMK realizes MMK-Atakas project in Turkey with annual capacity of 2.3 mln tons of flat steel. In 2009 the company produced 9.6 mln tons of crude steel and 8.8 mln tons of commercial steel products. MMK Group revenue in 2009 stood at USD 5.081 bn, EBITDA at USD 1.285 bn, profit for the period - USD 219 mln.

Contacts:Evgeny KovtunovPhone.: +7 (3519) 24-93-55E-mail: kovtunov@mmk.ru

.