Moscow, Russia – August 10, 2009 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announces the Memorandum of Cooperation signing with Mitsui & Co. Corporation.

On August 6, 2009 the meeting between the heads of both of the companies took place in Moscow office of Mechel OAO. During the above mentioned meeting Memorandum of Cooperation was signed by both parties. From the side of Mechel the memorandum was signed by its CEO Igor Zyuzin, from the side of Mitsui & Co. Ltd. – Noriaki Sakamoto – Member of the Board of Directors.

It is pointed out in the Memorandum, that the parties have great experience in the sphere of production and realization of resources and metallurgical production in Russia, Japan and other countries in the world and have an intention to expand the geography of their activity and assortment of realized production, including high quality products.

In this connection the parties are planning to realize cooperation in different directions, among which – marketing and sale of metal production and resources, including coal, all types of ferroalloys, pig iron, billet and other types of iron and steel products. Joint investment projects are also planned, among which organization of joint ventures in the sphere of primary goods production, production of ferrous and non-ferrous metallurgy, sales and distribution.

The cooperation will also spread to the sphere of logistics, where the parties intend to study the possibilities and take joint actions in order to optimize commodity flows and minimize the expenses on cargo transportation.

In order to develop mutually profitable joint projects the parties also intend to cooperate in the sphere of finance engagement.

Aiming at effective realization of joint arrangements in the frame of this Memorandum the parties will establish working groups, which are to consist of representatives of both parties.

Mitsui & Co. Ltd., is one of the leading global diversified trading and investment enterprises, based in Tokyo, Japan.