Chelyabinsk, Russia – November 18, 2008– In accordance with  the Company's  resolution, Mr. Reinhold Steiner was appointed CEO of ChTPZ-Group, Chelyabinsk Pipe-Rolling Plant (ChTPZ, Chelyabinsk, Russia) (RTS: CHEP) and Pervouralsk New Pipe Plant (PNTZ, Pervouralsk, Sverdlovsk region, Russia) (RTS: PNTZ), managing company, effective November 17, 2008. He succeeded Pavel Pelugin who will handle Group-wide projects.

Mr. Steiner joined the Company after 14 years at Voestalpine Group, the top European steelmaking and processing group, where during the last seven years he was in charge of Voestalpine’s welded pipe-making facilities in Austria. 

Alexander Fyodorov, chairman of the Board of Directors of Chelyabinsk Pipe-Rolling Plant, said in his comment that “we are happy to welcome this top-level manager to our company. Mr. Steiner joins ChTPZ-Group at a crucial time when our business needs strong management team to counter the effects of the global financial crisis.Mr. Steinerhas developed formidable credentials in the world steel-making community both as a successful manager and as an expert in pipe-making for the fuel and energy industry who has extensive knowledge of the oil and gas industry. I am convinced that Mr. Steiner’s experience will help ChTPZ Group carry out its strategy aimed at meeting short-term and long-term needs of the domestic fuel and energy industry for high-quality pipes. Mr. Steiner’s competence in the management and organization of advanced pipe-making facilities is much needed now that new state-of-the art facilities are being commissioned at the Company's  enterprises”.