Alexander Stepanov, technical director of Severstal; Vadim Makhov, deputy general director of Severstal-group on strategy and controlling; Igor Timofeev, senior manager of the strategic planning department of Severstal will represent Severstal-group, while Gerard Dupui and Vladimir Lihnat will represent Arcelor top management team at the Board of Directors meeting.

The Severgal Board of directors will discuss implementation of the project for the construction of the hot dip galvanizing line for the automotive industry with an annual capacity of 400,000 tonnes a year. Ivan Nefedov, general director of Severgal, will make a report on the 2002’s activities.

The Board will also discuss whether to hold the Severgal shareholders’ meeting to endorse contracts for making of technological and crane equipment. These contracts have to be signed by Severgal with a number of domestic and foreign companies in agreement with CMI (Belgium) - its chief supplier. The list of aforementioned companies includes SSM-Tyazhmash - Severstal’s spun-off repair and maintenance division.

16 January 2003