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Novolipetsk Steel

July 29, 2010

Beta Steel Corp changes its name to NLMK Indiana

Beta Steel, a Portage (Indiana, USA) based steel mini-mill specializing in the production of hot rolled coils, today announces that it is changing its name to “NLMK Indiana” effective from July 27,2 010. The Company’s new name reflects its identity and position within the corporate structure of NLMK Group, to which it belongs since 2008.

Paul Fiore, President, said, ”NLMK Indiana has built a solid reputation as a premier supplier of high quality steel products over the past 10 years and we have always been recognized as a responsible and reliable partner. The company’s ownership and its approach to operational excellence have not changed. We will continue growing the company as we finalize the integration into NLMK Group, which has already resulted in improved access to capital and better coordination of our operations with other NLMK assets. Combined, this creates more opportunities for us to strengthen our market position and customer service”.

NLMK Indiana (former Beta Steel Corp)

Located in Portage, Indiana, the company operates an electric arc furnace melt shop that produces continuous cast steel slabs and a hot strip rolling mill for processing slabs into flat rolled steel products. NLMK Indiana is specializing in the production and sale of hot rolled coils primarily to pipe and tube manufacturers and steel processors. The company operates an EAF melt shop and hot strip rolling mill of 700,000 tpa and 1,100,000 tpa capacity, respectively, and employs c.350 people. The company, established in 1992, has modern and well-invested production facilities allowing it to supply a wide range of high quality HR steel products. The company provides excellent customer service and industry-leading delivery times, beingconsistently ranked above the market average. In October 2008, 100% stake in the company was acquired by Novolipetsk Steel (NLMK) for USD 350 m.

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