Resumption of dividend payments and date of Extraordinary General Meeting

integrated steel and mining companies, is recommending a dividend of 4.29 rubles (approximately $0.14) per share in respect of the first nine months of the financial year to 30 September 2010. The record date is 12 November 2010.

Approval of the dividend payment is expected at the EGM which will take place on 20 December 2010.

The Board of Severstal has approved the following agenda for the EGM: a) approval of dividend payments of 4.29 rubles per share for the first 9 months of the financial year to 30 September 2010, b) approval of changes to the company Charter, c) joining the OOR “Russian Union of Industrialists and Entrepreneurs”.