Mechel Reports Changes in Mecheltrans Management

Moscow, Russia — January 16, 2011 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, reports the appointment of Oleg Vasechko as Chief Executive Officer of Mecheltrans Management Company OOO.

Oleg Vasechko, who until now worked as deputy chief executive officer, was appointed Chief Executive Officer of Mecheltrans Management Company OOO.

Alexander Starodubov, Mecheltrans Management Company OOO’s previous chief executive officer, was voted in as Chairman of Mecheltrans OOO’s Board of Directors.

“With Alexander Starodubov at the helm, Mecheltrans became an important component of Mechel Group’s success and a key competitive advantage for our company. Over the past year, Mechel’s transport division significantly expanded the scope of its activities, increased its fleet and added another direction to its range of services — automobile shipments. Oleg Vasechko has priceless experience and deep knowledge necessary to manage the logistics segment of Mechel’s business. Alexander Starodubov in his turn will focus on strategic issues of Mecheltrans’ development,” Mechel OAO’s Chief Executive Officer Yevgeny Mikhel noted.

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.