A special meeting of Severstal shareholders will be held by absentee ballots on September 14, 2004. This is the closing date for submitting ballots.

If the shareholder meeting makes a decision in favor of first half dividend payment, the shareholders will receive 100 rubles per each ordinary nominal share. The dividend payment will begin September 30, 2004.

The dividend payment will be made differently, depending on whether a shareholder is a physical person or a legal entity. Legal entities will receive payments by bank transfer to their accounts. Dividends to physical persons will be transferred to either plastic card accounts, settlement and other types of accounts, or paid in cash at the company's cashier's office. They can be also sent by money order in the shareholders address.
The closing registration date for owners of registered Severstal securities is August 5, 2004.