OJSC Magnitogorsk Iron and Steel Works ("MMK" or “the Company”) announces the launch of a series of “open house” meetings with suppliers.

These regular meetings between the Deputy CEO for Commercial Affairs Sergei Ushakov and the Company’s suppliers of materials, equipment and energy resources, as well as contractors and services suppliers, both existing and potential.

The series of events is aimed at improving the quality and reliability of MMK Group’s supplies, and enhancing the system of inventory and logistics management. The Company expects this format to facilitate a higher level of openness and transparency regarding the procurement process, while at the same time allowing for feedback between suppliers and departments overseen by the Deputy CEO for Commercial Affairs.

MMK is committed tothe improvement of its procurement activities, therebyincreasing the quality of metals and optimising production costs. Over the last year the Company has implemented a number of major projects aimed atincreasing efficiency and transparency of the procurement process, as well as decreasing the influence of human factorsin decision making. Last year MMK received the Leader of Competitive Purchases 2014 award, and also was recognised among the best metal and mining companies in a National Rating for Transparent Procurement 2014.

Contacts for Suppliers

Oleg Shashkov

Commercial Director

Phone:+7 (3519) 24-55-77

Fax:+7 (3519) 25-37-10

Konstantin Emelin

Head of the Raw Materials Administration

Phone:+7 (3519) 24-55-77

Fax:+7 (3519) 25-37-10

Dmitry Lisnenko

Head of the Equipment Administration

Phone:+7 (3519) 24-33-53

Fax:+7 (3519) 24-76-22