Moscow, Russia — December 15, 2008 — Mechel OAO (NYSE: MTL) announces that it intends to release its results for the first half ending June 30, 2008, and the nine months ending on September 30, 2008 on Thursday, December 18, 2008. In conjunction with this release, Mechel will host a conference call, which will be simultaneously broadcast live over the Internet. Igor Zyuzin, Chief Executive Officer, will host the call.

Listeners can access the conference call live over the Internet through a link on Mechel's web site at https://www.mechel.com/investors/fresults/index.wbp at the following times:

   Thursday, December 18, 2008

   6:00 PM Moscow Time

   3:00 PM London Time

   10:00 AM New York Time

Please allow 15 minutes prior to the call to visit the site and download and install any necessary audio software. Additionally, investors can access a replay of the webcast on our web site for one month.