Moscow, Russia – March 13, 2009 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announced the election of new members to the Mechel OAO Management Board, the Company’s collegial executive body.

The election of new members to the Mechel OAO Management Board was approved by the Mechel OAO Board of Directors on March 12, 2009.

Igor Zyuzin, Mechel OAO CEO, was reelected as new Management Board Chairman.Vladimir Polin, Mechel OAO Senior Vice-president, was elected as First Deputy Management Board Chairman and Evgeny Mikhel, Mechel OAO Vice President for Legal Affairs was elected as Deputy Management Board Chairman.

The following individuals were elected to be members of the Management Board:

Viktor Gvozdev, Mechel Energo OOO CEO; Andrey Deineko, Mechel Management OOO CEO; Irina Ipeeva, Mechel OAO Director of Department for Corporate Management and Property, the Main Corporate Lawyer; Oleg Korzhov, Mechel Management OOO Deputy CEO for Economy and Finance; Gennady Ovchinnikov, Mechel Ferroalloys Management Company OOO CEO; Stanislav Ploschenko, Mechel OAO CFO; Elena Selivanova, Mechel OAO Director of Human Resources Department; Alexander Starodubov, Managing Director of Mecheltrans ÎÎÎ; Igor Khafizov, Mechel Mining Management Company CEO, Mukhamed Tsikanov, Mechel OAO Senior Vice President on Economics and Management.

The resolution approving the "Bylaw on the Collegial Executive Body (Management Board)" of Mechel OAO was adopted at the Extraordinary General Shareholders’ Meeting on August 6, 2007. The Management Board was created to enable the Company’s management team to more expediently make essential business decisions after consulting with the members of the Management Board.