MECHEL ANNOUNCES SIGNING COOPERATION AGREEMENT WITH RUSSIA’S ECONOMIC
DEVELOPMENT MINISTRY

Moscow, Russia  –  October 12, 2012 – Mechel OAO (NYSE: MTL), one of the leading
Russian mining and metals companies, reports signing an agreement with the
Russian Federation’s Economic Development Ministry for cooperation aimed at
support and development of the Group’s external economic operations.
Within this agreement’s framework, the Economic Development Ministry will lend
its support to Mechel OAO in preparing and holding events promoting the
company’s interests in the areas of coal industry, ferrous metallurgy and
energy. It will also offer the company’s representatives the chance to
participate in events organized by the ministry and in the work of
inter-governmental commissions on trade, economic, scientific and technical ties
between the Russian Federation and foreign states.  In addition, the Economic
Development Ministry will aid the company in including its issues on the agendas
of meetings between the minister and his deputies and their foreign
counterparts.
The agreement was signed by the Russian Federation’s Economic Development
Minister Andrei Belousov and Mechel OAO’s Chief Executive Officer Yevgeny
Mikhel. The agreement is valid for three years and will be extended
automatically.
“This cooperation agreement with Russia’s Economic Development Ministry is an
example of our state’s timely and thoughtful approach in helping Russian
companies that have external economic operations in implementing their projects.
With such an approach, all the steps undertaken both by the company and the
ministry and trade representatives are aimed at reaching practical results that
will benefit Russian business and the state as a whole,” Mechel OAO’s Chief
Executive Officer Yevgeny Mikhel noted.
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Mechel OAO
Pavel Taran
Tel: + 7 495 221-88-88
pavel.taran@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.