Moscow, Russia – September 29, 2009 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announces that the name of its subsidiary, Mechel Management OOO, has changed. The subsidiary’s new name is Mechel-Steel Management Company OOO.

From September 14, 2009, Mechel Management Company OOO, which is a part of Mechel group of companies, has been renamed into Mechel-Steel Management Company OOO. The name has been changed in line with the reorganization of Mechel group’s asset management structure.

Mechel-Steel Management Company OOO provides operational management of Mechel’s steel assets.

Mechel-Steel Management Company OOO Chief Executive Officer is Mr. Andrey Deineko.

Mechel group currently includes a number of management companies which are in charge of operational management of other divisions’ subsidiaries, such as: Mechel Mining, Mechel Ferroalloys, Mechel Energo, and Mecheltrans.