MECHEL ANNOUNCES SIGNING A COKING COAL SUPPLY CONTRACT

Moscow, Russia – June 09, 2009 – Mechel OAO (NYSE: MTL), one of the leading
Russian mining and metals companies, announces that its Mechel Trading AG
subsidiary has signed a long-term coking coal supply contract with South Korean
Hyundai Steel.
In February 2009, visiting South Korea as a member of the Russian delegation
headed by the Russian Federation Deputy Prime Minister Igor Sechin, Mechel OAO
Chief Executive Officer Igor Zyuzin signed the agreement with South Korean
Hyundai Steel to supply K-9 grade coking coal mined from Neryungri open pit.
On June 9, 2009, under the agreement a commercial contract has been concluded
between Mechel Trading AG, Mechel’s international sales company, and South
Korean Hyundai Steel Company.
Pursuant to the contract, coal will be supplied during the next five years
starting from April 1, 2010.  The supply volumes will reach 200,000 tonnes p.a.
The coal deliveries to South Korea will be performed on FOB basis via Mechel’s
trade Port Posiet subsidiary.
“Signing the commercial contract became another stage in developing partnership
relations between Mechel and Hyundai Steel.  In the context of current economic
situation, export coking coal supplies became especially important to ensure
utilization of our mining facilities.  I am confident that today’s signing will
give additional impetus to the long-term and mutually beneficial relations
between our companies,” Mechel OAO Senior Vice President Vladimir Polin
commented.
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Mechel OAO
Ilya Zhitomirsky
Phone: + 7 495 221 88 88
ilya.zhitomirsky@mechel.com
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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.
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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.