MECHEL OAO
(NYSE:MTL)

Scheduled for:

Friday, July 21, 2006
10:00 AM New York Time
3:00 PM London Time
6:00 PM Moscow Time

You are cordially invited to participate on a conference call with the management of Mechel OAO (NYSE:MTL) to discuss 2006 first quarter results. Alexey Ivanushkin, Chief Operating Officer of Mechel, will host the call.

Please call the number below approximately 10 minutes prior to the scheduled time of the call, quoting Mechel, and the chairperson’s name, Irina Ostryakova.

Conference Call Phone Numbers:

US: +1 718 354 1158
International: +44 (0) 20 7365 1828

The earnings release will be distributed prior to the conference call. A slide presentation will also be available to download at: https://www.mechel.com/investors/fresults/index.wbp

approximately one hour prior to the conference call.

In addition, the conference call will be available live via the Internet. To access the call, please visit our website at: https://www.mechel.com/investors/fresults/index.wbp

A replay of the call will be available until 11:59PM New York time on July 28. To access, please dial, US: +1 718 354 1112; UK: +44 (0) 20 7806 1970. From both areas, enter: 2547915# to access.