Moscow, Russia — June 24, 2011 — Mechel OAO (NYSE: MTL), a leading Russian mining and metals group, announces that it intends to release its financial results for the first quarter period ending March 31, 2011, on Wednesday, June 29, 2011. In conjunction with this release, Mechel will host a conference call, which will be simultaneously broadcasted live over the Internet. Yevgeny Mikhel, Chief Executive Officer, will host the call.

The conference call will take place at the following time:

Wednesday, June 29, 2011

6:00 PM Moscow Time

3:00 PM London Time

10:00 AM New York Time

Please dial the number below approximately 15 minutes prior to the scheduled time of the call, quoting Mechel, and the chairperson name, Vladislav Zlenko.