Moscow, Russia – March 16, 2009 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, today announced the inclusion of its ordinary registered book-entry shares on the MICEX quotation list A1.

On March 13, 2009 the Executive Body of Closed Joint Stock Company "Moscow Interbank Currency Exchange" decided to include Mechel OAO ordinary registered book-entry shares, state registration number 1-01-55005-E as of April 29, 2003, on the quotation list A1-level.

The amount of Mechel OAO ordinary shares issued totals 416,270,745 shares.

Since October 8, 2008, the Executive Body of MICEX Stock Exchange included Mechel OAO ordinary registered book-entry shares on the quotation list B. On October 17, 2008 Mechel OAO ordinary registered shares were included on RTS A2-level quotation list, while corporate ADRs have been traded on the New York Stock Exchange since October 29, 2004.

Mechel will trade on the MICEX quotation list A1 with companies such as Sberbank, Lukoil, Tatneft, Aeroflot, etc.

“The decision to include Mechel shares on the higher level quotation list confirms investors’ positive perception of the activities currently undertaken by the company and the appreciation of its prospects. We are confident this decision will allow us to raise additional liquidity for Mechel's securities,” Mechel OAO Chief Financial Officer Stanislav Ploschenko commented.