Mechel OAO Announces Inclusion of Its Shares on MICEX Quotation List A1

MOSCOW - Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals
companies, today announced the inclusion of its ordinary registered
book-entry shares on the MICEX quotation list A1.

On March 13, 2009 the Executive Body of Closed Joint Stock Company
“Moscow Interbank Currency Exchange” decided to include Mechel OAO ordinary
registered book-entry shares, state registration number 1-01-55005-E as of
April 29, 2003, on the quotation list A1-level.

The amount of Mechel OAO ordinary shares issued totals 416,270,745
shares.

Since October 8, 2008, the Executive Body of MICEX Stock Exchange
included Mechel OAO ordinary registered book-entry shares on the quotation
list B. On October 17, 2008 Mechel OAO ordinary registered shares were
included on RTS A2-level quotation list, while corporate ADRs have been
traded on the New York Stock Exchange since October 29, 2004.

Mechel will trade on the MICEX quotation list A1 with companies such as
Sberbank, Lukoil, Tatneft, Aeroflot, etc.

“The decision to include Mechel shares on the higher level quotation list
confirms investors’ positive perception of the activities currently
undertaken by the company and the appreciation of its prospects. We are
confident this decision will allow us to raise additional liquidity for
Mechel’s securities,” Mechel OAO Chief Financial Officer Stanislav Ploschenko
commented.

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, steel, rolled products, ferroalloys, hardware,
heat and electric power. Mechel 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, 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 files from time to time with the U.S.
Securities and Exchange Commission, including our Form 20-F. 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 20-F, 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.

Source: Mechel OAO

Ilya Zhitomirsky, Mechel OAO, +7-495-221-88-88, ilya.zhitomirsky at mechel.com