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February 22, 2005

Mechel announces change in names of its Romanian subsidiaries

Bucharest, Romania – February 22, 2005 – Mechel has announced that shareholders meetings resolved to change names of its Romanian facilities to Mechel Targoviste and Mechel Campia Turzii.

Mechel Targoviste (Targoviste, Romania) is Romania’s largest metallurgical plant. It produces rolled products in carbon and alloy steels and forged and calibrated products for machinery and automobile manufacturers, construction industry, and the hardware, bearing, and pipe industries. The company’s quality management system is compliant with ISO 9001:2000 international standard.

Mechel Campia Turzii (Campia Turzii, Romania) is a metallurgical facility that produces rolled products in carbon and low-alloy steels for machinery manufacturers, as well as steel rebar, wire rod and hardware, including various kinds of wire, cable, mesh, electrical cable, and nails. The company is certified under ISO 9001:2000 international standard. In May 2002, the plant received ISO 14001 environmental certification.


Mechel Steel Group OAO
Irina Ostryakova
Director of Communications
Phone: 7-095-258-18-28
Fax: 7-095-258-18-38


Mechel Steel Group is a Russian metals and mining company, uniting producers of steel, rolled products, hardware, coal, iron ore concentrate, and nickel. Mechel Steel Group 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 Steel Group, 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 Steel Group files from time to time with the U.S. Securities and Exchange Commission, including our Form F-1. 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 F-1, 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.




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