Stake acquisition in Lucchini

SEVERSTAL ACQUIRES THE LUCCHINI FAMILY'S STAKE IN LUCCHINI SpA

4 March, 2010 - Moscow, Russia - OAO Severstal (LSE: SVST; RTS: CHMF), one of the world's leading steel and mining companies, with key assets in Russia, the US and Europe, and the Lucchini family announce that Severstal has acquired the family's 20.2 percent stake in Lucchini SpA.

Following the transaction Severstal now owns 100 percent of the Lucchini SpA.

For further information:

OAO Severstal

Dmitry Druzhinin, Investor Relations

Olga Antonova, Public Relations

+7 495 926 7766

Hudson Sandler

Andrew Hayes/Jessica Rouleau/Maria Ignatova

+44 (0) 20 7796 4133

Additional information:

OAO Severstal is an international steel and mining company with a listing on the Russian Trading System, Moscow Interbank Currency Exchange and the London Stock Exchange. The company focuses on high value added and unique niche products. Severstal owns mining assets in Russia and in the US. Its enterprises are located in Russia, Ukraine, Kazakhstan, France, Italy, United States and Africa.