Moscow, Russia – April 24, 2009 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, today announces Q1 2009 operational results.

Q1 2009, thousand tonnes Q1 2009 as compared to Q1 2008, % Coal 3,425 -52.9   Coking Coal 1,022 -76.3   Steam Coal 2,403 -19 Coal concentrate* 2,207 -46.5   Coking 884 -73.4   Steam 1,323 +67 Iron ore concentrate 929 -20 Nickel 2.9 -33 Ferrosilicon 24.4 +6 Ferrochrome 7.7 n/a Hardware 123.8 -32 Forgings 14 -28 Stampings 11.2 -53.4 Rolled Products 1,071 -21.6   Flat Products 67 -42   Long Products 710 -13   Billets 294.4 -32.1 Steel 1,100 -29.6 Pig iron 686 -29.3 Coke 543 -40.8 Electric power generation (ths. kWh) 899,309 -29.5

^* Coal concentrate is produced from a part of raw coal tonnage mined.

Vladimir Polin, senior vice-president of Mechel OAO, commented on the first quarter 2009 operational results: “Negative trends caused by global economic crisis have affected Mechel’s operational results in Q1 2009. Unfavorable market conditions and, first of all, a drop in demand in construction and machinery industries caused reduction of output in our steel division and in all the other segments following our production chain.

At our coal mining operations we changed mining plans in favor of increased production of steam coal as demand for this product was stable. This allowed us to more than double the output of steam coal concentrate.

In our steel segment, pig iron production was reduced due to the overhaul of the blast furnace No. 4 for capital repair in Q4 2008. The furnace was commissioned in the beginning of April, 2009 and we expect the output to rich previous levels.

We continue implementing our strategy of increasing the output of high-margin downstream products, that is why we reduced the share of low-marginable products (billets) in our product portfolio. Overall reduction of steel and rolled products output is in line with market trends.

In our ferroalloys segment there was a decline in demand and, consequently, in output of nickel. At the same time, Bratsk Ferroalloys Plant and Tikhvin Ferroalloy Smelting Plant operations fully matched the load of previous periods. At the same time in the first quarter of 2009 we increased production of ferrocilicon.

Our sales company, Mechel Service, continued active work with steel products end customers in different regions of Russia and abroad. Its efforts allowed us to secure a minimum decrease in our steelmaking capacities load and to retain our market position notwithstanding gross reduction in output throughout steel industry and overall economy downturn.

We continue monitoring our markets and will make prompt responses to changes in demand ensuring stable operations of the company in current economic environment.”