Evraz changes dividend policy

Evraz Group announces that the Company’s Board of Directors has approved a change in Evraz’s dividend policy.Beginning with the final dividend for 2008, Evraz will pay dividends not exceeding 25% of its consolidated net income, as calculated under IFRS. Since the Company’s initial public offering in June 2005, the Company’s dividend policy had been to pay no less than 25% of its consolidated net income through the cycle.The change reflects the Company’s intention to ensure prudent cash management in the current challenging market environment.