Mezhdurechensk, Russia – May 30, 2008 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announces that an accident has occurred at its Southern Kuzbass OAO coal subsidiary’s Lenin Mine while installing the UKP-5 complex.

As part of installing the UKP-5 complex, construction of powered roof support sections was being performed at Southern Kuzbass OAO’s Lenin Mine. To date, 26 sections were erected. Today, while the 27th section was being installed, the interseam formation of coal and rock in the excavation roof unpredictably collapsed. Eight workers fell under the coal and rock at the time of the accident. Two workers were injured and have been safely rescued while six other workers remain trapped at this time.

“Operations are currently being carried out to eliminate the accident's after-effects and rescue the six miners,” Mechel Management OOO Chief Executive Officer Vladimir Polin commented.