MECHEL RECEIVES RUSSIA-KOREA BUSINESS AWARD IN BEST CORPORATION CATEGORY

Seoul, Republic of Korea – April 04, 2012 – Mechel OAO (NYSE: MTL), one of the
leading Russian mining and metals companies, announces winning Russia-Korea
Business Awards’ Best Corporation nomination.
The award ceremony was held on April 3, 2012, in Seoul. The ceremony was
attended by Russian Federation’s Deputy Minister for Economic Development Igor
Manylov, the Republic of Korea’s Deputy Minister for Knowledge Economy Moon Chai
Do, Russian Federation’s Plenipotentiary Ambassador in the Republic of Korea
Konstantin Vnukov, Russian Federation’s Trade Representative in the Republic of
Korea Mikhail Bondarenko, Vice-President of Korea Chamber of Commerce and
Industry Lee Dong Geun, Vice-President of Federation of Korean Industries Ahn
Heun Ho and other officials, as well as representatives of Russian and Korean
business circles.
Mechel has strong partnership ties with South Korean consumers of its products,
mostly coking coal, including major companies like POSCO and Hyundai Steel.
South Korea’s POSCO company is Mechel’s strategic partner in joint projects in
the steel, mining and infrastructure industries. Since August 2009, Mechel’s
official representative office is working in Seoul.
Russia-Korea Business Awards were organized by the Russian Federation’s Trade
Representative in the Republic of Korea and the Republic of Korea’s Ministry of
Knowledge Economy, as well as leading Korean foreign economic organizations —
Korea International Trade Organization (KITA), Korea Importers Association
(KOIMA), Korea Chamber of Commerce and Industry (KCCI), Federation of Korean
Industries (FKI). The award ceremony is due to be held annually to strengthen
the dialogue between Russian and Korean business communities.
“Mechel’s winning the Best Corporation award shows that the projects we
implement together with our South Korean partners not only strengthen trade and
economic ties, but create a solid and lasting basis of trust and mutual
understanding between our two countries,” Mechel OAO’s representative in South
Korea Evgeniya Mudrova noted as she received the Russia-Korea Business Award on
the company’s behalf.

***
Mechel OAO
Ekaterina Videman
Tel: +7 495 221-88-88
ekaterina.videman@mechel.com
 ***
Mechel is one of the leading Russian companies. Its business includes four
segments: mining, steel, ferroalloy and power. Mechel unites producers of coal,
iron ore concentrate, nickel, ferrochrome, ferrosilicon, steel, rolled products,
hardware, heat and electric power. Mechel products are marketed domestically and
internationally.
***
Some of the information in this press release may contain projections or other
forward-looking statements regarding future events or the future financial
performance of Mechel, as defined in the safe harbor provisions of the U.S.
Private Securities Litigation Reform Act of 1995. We wish to caution you that
these statements are only predictions and that actual events or results may
differ materially. We do not intend to update these statements. We refer you to
the documents Mechel files from time to time with the U.S. Securities and
Exchange Commission, including our Form 20-F. These documents contain and
identify important factors, including those contained in the section captioned
“Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in our
Form 20-F, that could cause the actual results to differ materially from those
contained in our projections or forward-looking statements, including, among
others, the achievement of anticipated levels of profitability, growth, cost and
synergy of our recent acquisitions, the impact of competitive pricing, the
ability to obtain necessary regulatory approvals and licenses, the impact of
developments in the Russian economic, political and legal environment,
volatility in stock markets or in the price of our shares or ADRs, financial
risk management and the impact of general business and global economic
conditions.