Statement re Maxi Group

23 Nov 2007 10:25

OJSC Novolipetsk Steel23 November 2007 Novolipetsk Steel (NLMK) 23 November 2007 OJSC Novolipetsk Steel (NLMK) Statement Re Maxi Group Novolipetsk Steel (LSE: NLMK) notes recent media reports concerning theYekaterinburg-based Maxi Group. NLMK confirms that it is in discussions withMaxi Group and that the parties have reached an agreement in principle on thesale of a controlling interest in Maxi Group to NLMK. The transaction, which is subject to execution of a definitive shareholdersagreement and approval by NLMK's Board of Directors, is expected to be completedby the end of the year. Further announcements will be made, as appropriate. 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