MECHEL OAO CLOSED BOOKS ON PLACEMENT OF BO-04 SERIES STOCK BONDS AT A SUM OF 5
BILLION RUBLES

Moscow, Russia — February 14, 2012 – Mechel OAO (NYSE: MTL), one of the leading
Russian mining and metals companies, announces successful closure of the books
for the placement of its BO-04 series bonds. The funds procured by the placement
will be used to re-finance short-term debt facilities.
On February 10, 2012 Mechel OAO closed the books for the placement of its
non-convertible interest-bearing documentary stock bonds of the BO-04 series
with an obligatory centralized custody (ID serial number 4В02-04-55005-Е of
05.02.2009). The bonds mature in 1,092 days, with a put option in two years.
The bonds have a total nominal value of  5.0 billion rubles (approximately 167
million US dollars*). The first coupon rate is 10.25% per year.
The BO-04 series bonds will be placed on the MICEX Stock Exchange ZAO on
February 14, 2012, with Coalmetbank OAO acting as the issuer’s agent for the
placement.
VTB Capital ZAO, Otkritie Bank OAO, Troika Dialog Investment Company ZAO and
Coalmetbank OAO acted as managers of the placement.
* Based upon the Russian Central Bank exchange rate of 29.89 RUR/$ as of
February 14, 2012.
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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.