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.
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Mechel OAO
Ekaterina Videman
Tel: + 7 495 221 88 88
ekaterina.videman@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, nickel, ferrochrome, ferrosilicon, steel, rolled products,
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.