Severstal Board recommends dividend payment for 12 months to 31 December 2011 and announces date of Annual General Meeting

The Board of ОАО Severstal, one of the world’s leading vertically integrated steel and steel related mining companies, is recommending a dividend of 3.56 rubles (approximately $0.12) per share for the twelve months to 31 December 2011.

Approval of the dividend is expected at the Company’s AGM which will take place on 28 June 2012. The record date both for participation in the AGM and for dividend payments for the 12 months ended 31 December 2011 is 15 May 2012 inclusive.

The Board of Directors agreed that the Company's AGM will be held at 41 Mateallurgists Palace, Stalevarov street, Cherepovets, Vologda Region, Russia. Registration for the AGM will start at 11.00am (MT). The AGM will start at 12.00pm (MT). The full agenda of the AGM will be approved by the Board and released in May 2012.