Moscow, Russia – October 9, 2008 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announces inclusion of its ordinary registered book-entry shares on MICEX quotation list V.

On October 9, 2008, MICEX Stock Exchange closed joint-stock company approved the inclusion of Mechel OAO ordinary registered book-entry shares, state registration number 1-01-55005-E as of April 29, 2003, on the list of securities for trading on the MICEX exchange.

The amount of Mechel OAO ordinary shares issued totals 416,270,745 ordinary shares.

Inclusion of Mechel OAO shares on quotation list V provides a significantly larger scope of investors with the opportunity to buy securities of the company.

Mechel OAO ordinary registered shares have been listed on RTS OAO quotation list B since June 29, 2004 and the company’s ADRs have traded on the New York Stock Exchange since October 29, 2004.

“With Mechel OAO shares already trading on the New York Stock Exchange, one of the worlds most prestigious trading floors, the decision to include Mechel shares on the MICEX quotation list confirms the appreciation of the company’s activity and prospects by Russian investors as well. This listing provides the potential for increased liquidity of our securities and additional opportunity for continued implementation of Mechel’s strategic investment program,” Mechel OAO Chief Financial Officer Stanislav Ploschenko commented.