Moscow, Russia – June 22, 2006 – Mechel OAO (NYSE: MTL) has announced that Igor Zyuzin, Chairman of the Board, has increased his stake in the company.

In line with the previously announced strategy, Mr. Zyuzin, Chairman of the Board, has increased his stake to 65.8% through a series of private transactions.

Mechel’s free float is currently 23%.