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News and Publications

PRESS RELEASE

MARK YOST APPOINTED CHIEF FINANCIAL OFFICER OF SEVERSTAL NORTH AMERICA AND SEVERCORR

DEARBORN, Mich. / COLUMBUS, Miss., March 4, 2008 - Severstal North America, Inc. ("SNA") and SeverCorr, the next generation steel mill located in Columbus, Miss., today announced the appointment of Mark J. Yost as Chief Financial Officer. Mr. Yost will be responsible for the financial management of both divisions of OAO Severstal, one of the world's leading metals and mining companies, and will report to Ron Nock, President and CEO of SNA, and Jim Hrusovsky, CEO of SeverCorr.

Mr. Yost recently served as manager of profit analysis and business planning at SNA and will replace Sergei Kuznetsov. Mr. Kuznetsov was appointed Chief Financial Officer of OAO Severstal in Moscow; he will commence that role mid-May 2008 and will assist Mr. Yost during the transition.

Ron Nock, CEO of SNA, said: "Mark brings to the CFO role twelve years of financial experience in the steel industry and at our company, having served in key accountancy and financial analysis roles with us both before and after the 2004 purchase of Rouge Steel Company by Severstal. His long tenure here has equipped him with the relevant skills and knowledge to ensure a seamless transition and continuity. Mark's analytical skills, ability to effectively work with people, and present difficult issues in an accessible manner for resolution have been a great asset to the Company."

Jim Hrusovsky, CEO of SeverCorr, said: "As SeverCorr successfully ramps up Phase 1 operations and looks toward continued growth into Phase 2, we're excited to have someone with Mark's strong business sense and industry expertise to ensure that we remain financially robust, profitable, and deliver real benefits to the Golden Triangle and the region on the whole."

Notes to Editors:

Born in 1972, Mark J. Yost graduated from University of Michigan in 1995. From 1995 to present, Mr. Yost has held a number of financial positions with the company: auditor, accountant, financial analyst, manager of profit analysis, budgeting and treasury and manager of profit analysis and business planning. Mr. Yost had also been recently been moved to a developmental assignment in the Purchasing office of SNA prior to this announcement. The assets of Rouge Steel Company were purchased by OAO Severstal in 2004 and renamed SNA.

About Severstal North America

SNA ranks as the fourth largest integrated steel company in the United States with its manufacturing facilities and corporate headquarters located in Dearborn, Michigan. SNA produces high quality flat-rolled carbon steel products - hot rolled, cold rolled, electrogalvanized and hot-dip galvanized - for customers in the automotive industry as well as for customers in the converter, service center and other related markets. To increase its line of value-added products, SNA has formed a number of joint ventures with other steel companies. Pursuing its commitment to an exceptional quality product and to the protection of human and environmental health, SNA has earned TS 16949, OHSAS 18001 and ISO 14001 certifications, the international standards for quality, health and safety and environmental management systems, respectively. SNA is a wholly-owned subsidiary of OAO Severstal, one of Russia's largest steelmakers and one of the top fifteen integrated steel manufacturers in the world.

About SeverCorr

SeverCorr is a unique mill in that it produces high-quality steel by combining an electric arc furnace steel making process using scrap metal with integrated finishing plant. It is located near a number of large steel customers, making the distribution channels more efficient. SeverCorr complements SeverStal's other U.S. business, SNA, which is based in Dearborn, Michigan and primarily serves the manufacturing hub of the Midwest U.S.

About SeverStal:

OAO SeverStal is an international steel producer with a listing on the London Stock Exchange and the Russian Trading System. Incorporated in 1993, the company focuses on high value added and unique niche products and has a successful track record of acquiring and integrating high-quality assets in North America and Europe. SeverStal owns mining assets in Russia, thus securing its supplies of raw materials. In 2006 SeverStal produced 17.6 million tonnes of steel and had revenues of $12.4 billion, PBT of $1.8 billion and EPS of $1.27.
 
 
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