Moscow, Russia – July 01, 2010 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announces that Mr. Igor Zyuzin, the core shareholder of the company, changed his position from the Chief Executive Officer to the Chairman of the Board of Directors.

Due to the final transformation of Mechel group’s operational management into divisional structure and the recovery from the global financial crisis, Mr. Zyuzin leaves position of the CEO and returns to the post of the Chairman of the Board of Directors, which he held until December, 2006.

According to the decision of the Board of Directors, Yevgeny Mikhel takes the position of Mechel OAO’s CEO. Prior to this appointment Mr. Mikhel worked as the First Deputy CEO of Mechel OAO from April, 2009. Before that, from September, 2007 he served as Mechel OAO’s Vice-President for Legal Matters and Director of the Legal Department. Earlier, since July, 2003 he was Director of the Department of Judicial Protection and Legal Regulation of Mechel OAO. Since July, 2002 he was Director of the Legal Department of Mechel Trading House OOO. Starting from October 2000 Yevgeny Mikhel worked as Head of the Department of Litigation and Enforcement of Court Orders of Chelyabinsk Metallurgical Plant. He graduated from the Urals State Law Academy.