Campia Turzii, Romania – November 25, 2008 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announces that the President of Romania, Traian Basescu, made a working visit to Mechel’s Romanian steel subsidiary, Mechel Campia Turzii.

The visit of the Romanian President took place on November 21, 2008, as part of his program of visiting Romania’s major enterprises to get a firsthand acquaintance with their operations in the current economic situation. President Basescu was interested in the affairs at the plant and the possible support required to the plant from the government.

The meeting with the Romanian President was attended by the plant’s managers and workshop heads. The plant’s General Director, Gennadiy Somov, informed the President Basescu on the plant’s operations and its plans for the future, and described the modernization of the plant’s production processes to manufacture higher quality products. The plant’s General Director also noted the consistent attention paid by Mechel OAO's management to the environmental matters in Campia Turzii through implementation of the plant’s investment programs, which will result in a significant reduction of emissions into environment.

Since the conclusion of the privatization contract and the integration of the plant into Mechel Group in 2003, Mechel has invested about US$30.0 million in Mechel Campia Turzii to upgrade its production and its environmental facilities and fulfill its investment obligations. Mechel was able to complete the requirements of the privatization contract more than one year ahead of the stipulated term. Based on the results for the fist nine months of 2008, the plant, for the first time during the last more than 20-year period, is showing positive net profit indicators.

The Romanian President also took interest in the breakdown of Mechel Campia Turzii’s export and domestic sales, its output, its sales in the current economic situation, and its employees’ wages. Mr. Somov informed President Basescu and assured him that the plant’s management is making its best efforts to maintain the existing jobs at the facility, which Mr. Basescu subsequently announced to Romanian journalists at a press conference following the meeting.

The Romanian President expressed his satisfaction with the plant, its investments and modernization plans. The President added that the leading enterprises of Romania, such as Mechel Campia Turzii, play an important role in the development of Romania’s economy. Mr. Basescu requested management of the plant to prepare a plan to ensure the plant’s operations in the current fiscal situation and submit it for consideration by the Head of the State jointly with the Romanian Government. The President of Romania stated his wish to visit the plant again in the first half of 2009 for a longer and more detailed tour of its workshops.