Moscow, Russia – October 1, 2008 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announces the appointment of Igor I. Prischepov as a Managing Director at its Trade Port Posiet OAO subsidiary.

Previously, Mr. Prischepov (50) was Chief Engineer of Mechel’s Trade Port Posiet OAO subsidiary from June to September 2008. From 1982 to 2008, Mr. Prischepov held various positions at the Murmansk Sea Port, elevating to the position of Chief Engineer. From 1980 to 1982, he worked as an electric equipment operator and maintenance craftsman at Krichevcementoshifer production association.

Mr. Prischepov graduated from the Belorussian Polytechnic Institute receiving the Order of the Red Labor Banner with a degree in Electric Power Supply of Industrial Enterprises, Cities, and Agriculture.

“Trade Port Posiet has an important role in the structure of Mechel’s transportations, as it handles Mechel’s coal deliveries to markets in the Asia-Pacific region. Therefore, we pay special attention to all aspects of the port’s development. I am confident that such an experienced specialist as Igor Prischepov will successfully manage the reconstruction and technical re-equipment of Port Posiet, whose annual freight turnover is planned to reach 7 - 9 million tones a year. Moving forward, we expect the port’s implementation of new technologies and equipment will continue to increase,” Mechel Management OOO Chief Executive Officer Vladimir Polin noted.