Transfer of securities

OAO SEVERSTAL

Transfer of Securities

November 22, 2012, Moscow, Russia - Holdgrove Limited ("Holdgrove"), a private company limited by shares, established under the laws of Cyprus, being an indirect subsidiary of OAO Severstal ("Severstal", the "Company") (LSE: SVST; MICEX-RTS: CHMF), has acquired 25 153 084 Global Depositary Receipts ("GDRs") listed on the London Stock Exchange, each representing one ordinary share of Severstal ("Share") and has also acquired 1 945 234 Shares ("Shares" jointly with GDRs the "Securities").

The Securities have been acquired by way of contribution to the share capital of Holdgrove by Lybica Holding B.V. ("Lybica"), a limited liability company established under the laws of the Netherlands, and Severstal CYBB Limited ("CYBB"), a private company limited by shares, established under the laws of Cyprus. Both Lybica and CYBB are the indirect subsidiaries of Severstal.

The transfers of Securities have been performed in connection with the placement of US$475 million senior unsecured convertible bonds due 24 September 2017 and issued by Holdgrove, as was announced by Severstal on 24 September 2012

Enquiries: 

Severstal Investor Relations

Vladimir Zaluzhsky

T: +7 495 926 7766

Severstal Public Relations

Elena Kovaleva

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

Hudson Sandler (Financial Communications Adviser)

Andrew Hayes / Andrew Leach / Maria Ignatova

T: +44 (0) 20 7796 4133