Targoviste, Romania – December 1, 2008 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announces the appointment of a new chief executive officer at Mechel Targoviste, its Romanian subsidiary.

Andrey Osipov, age 33, was appointed chief executive officer at Mechel Targoviste succeeding Vyacheslav Shmyga who is now heading the East -European steel division of Mechel group with the headquarters in Romania, as earlier announced.

Previously, Mr. Osipov was the head of the arc-furnace plant at Spetsstal OOO (subsequently, Chelyabinsk branch of Mechel Urals Stampings Plant OAO) since 2007. Since 2000, he was employed at the Chelyabinsk Metallurgical Plant successively holding positions from steelmaker assistant to senior foreman for steel casting.

Mr. Osipov graduated from Chelyabinsk State University of Technology with a major in Metallurgy of Ferrous Metals.

“Andrey is a young and experienced manager of high professionalism who has first-hand knowledge of all aspects of operations in iron and steel metallurgy. He has been working at Mechel group since the beginning of his career and gained credentials as an energetic, proactive and responsible executive. His knowledge and experience allows Mechel Targoviste to successfully implement its projects targeted at improving efficiency of and upgrading. I am confident that Mr. Osipov will be able to accomplish all the objectives that the company has set for him,” Mechel Management OOO Chief Executive Officer Vladimir Polin commented.