Moscow, Russia – May 3, 2011 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and steel companies, announces the launch of B2B-Mechel, an electronic trading system.

The system’s launch is part of a joint project between Mechel OAO and e-commerce operator B2B-Center to automate the process of competitive purchases of products, works and services by Mechel’s subsidiaries. The B2B-Mechel portal was created especially for this purpose on the basis of B2B-Center.

The system is aimed at cutting costs, optimizing financial expenditure and raising the efficiency of Mechel’s procurement processes.

The B2B-Mechel system enables its client to make all forms of purchases from request for proposal to auctions and multistage tenders. Use of e-commerce mechanisms will allow Mechel to significantly increase the transparency of these processes. It is important to note that B2B-Mechel is integrated into the B2B-Center network which numbers 55,000 members from various industries, which will enable the company to use to the fullest the potential of a well-developed Internet market with an unlimited range of products, works and services.

As part of the partnership tie between Mechel and B2B-Center, all companies wishing to take part in trading in B2B-Mechel are offered beneficial terms which will be operational until August 1, 2011.

“B2B-Mechel’s capabilities will enable Mechel to go to a new level of managing its trading and procurement activity. It is an efficient instrument for constructive work both with suppliers of material resources and our customers,” noted Mechel OAO’s Vice-President for Commercial Activities Mikhail Urvantsev.