MECHEL REPORTS RECEIVING A LOAN FROM SBERBANK

Moscow, Russia – October 13, 2010 - Mechel OAO (NYSE: MTL), one of the leading
Russian mining and steel companies, reports that Sberbank has opened a credit
line for Chelyabinsk Metallurgical Plant OAO (CMP).
Sberbank has opened a credit line totaling 15 billion rubles for Mechel’s
subsidiary CMP. The credit facilities provided will have a 5-year maturity and a
3-year grace period and will be used to refinance the short-term debt.
Stanislav Ploshchenko, Mechel’s Chief Financial Officer, commented on the event:
“We achieved a significant improvement in the maturity profile of our debt in
September 2010 when we had placed 10 billion rubles of 5-year bond in two
tranches and refinanced 2 billion dollars of the syndicated credit facility with
international banks. We are not stopping there. The support we receive from
Sberbank – our longstanding partner – helps us in achieving that goal. With the
new credit line we will optimize the structure of our debt portfolio further,
which will help us to continue working on our main task – financing the growth
of our business.”
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Mechel OAO
Ekaterina Videman
Tel.: +7 (495) 221-88-88
Е-mail: 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, 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.