MECHEL OAO PLACED COMMERCIAL PAPERS OF BO-02 SERIES AT A SUM
OF 5 BILLION ROUBLES

Moscow, Russia – March 16, 2010 – Mechel OAO (NYSE: MTL), one of the leading
Russian mining and metals companies, announces placing its commercial papers.
On March,16, 2010 Mechel OAO completed placement of its interest-bearing
commercial papers of BO-02 series with an obligatory centralized custody(ID
serial number 4B02-02-55005-E of 05.02.2009) at MICEX Stock Exchange ZAO.
Placement was performed by public subscription through collection of offers for
fixed-price purchase of commercial papers with coupon rate for the first coupon
period under the terms and conditions of Securities Prospectus and Decision on
Securities Issuance.
The number of the commercial papers placed makes 5,000,000 pieces (100% of the
issue volume), the nominal value of the commercial papers is 1000 roubles each
and the total nominal value of the placed commercial papers is 5,000,000,000
roubles.
The 1st coupon rate of the commercial papers of BO-02 series is set at the level
of 9.75 % per year which corresponds to the sum of 48.62 roubles. According to
the Prospectus of the commercial papers of B0-02 series and the Decision on the
commercial papers issue of B0-02 series, the coupon rate from the 2nd to the 6th
coupon is equal to the 1st coupon rate.
VTB Capital ZAO, Sberbank OAO, AKB Svyaz Bank OAO and Coalmetbank OAO were
managers of the placement.
 Stanislav Ploshchenko, Mechel’s Chief Financial Officer commented on the event:
“All in all, we are satisfied with the placement results. Due to the new level
of the cost of debt we achieved at the public market we continue improving the
group’s credit portfolio by replacing more expensive short-term secured bank
loans with more efficient public instruments. High demand – the book was more
than four-time oversubscribed at the bottom of the price range - and high
quality of investors base, give us reasons to count on healthy liquidity of this
paper as well as good perspective for further placement of Mechel’s bonds”.
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Mechel OAO
Ekaterina Videman
Phone: + 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, 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.