Statement regarding media speculation

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, notes media speculation that it is in negotiation to sell its European operations (Lucchini Group).

The Company confirms that it continues to explore all options to ensure the most appropriate structure for the development of these operations, including a possible sale of its ownership interest in European assets to a strategic partner.

A further announcement will be made in due course.