Moscow, Russia – July 3, 2007, – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announces the appointment of Stanislav Ploschenko as its Acting Chief Financial Officer effective immediately. In this position Ploschenko replaces Anton Vishanenko.

As Acting Chief Financial Officer, Mr. Ploschenko will be responsible for Mechel’s finance department, financial planning, US GAAP reporting, implementation of internal controls, integration and unification of Mechel subsidiaries’ operations, financial policies, and operational management of the financial division.

“Since joining the company, Stanislav has been a key member of the finance team and has been deeply involved in setting and executing on our financial strategy. We look forward to his continued contributions to our growth and progress as we work to improve reporting, to successfully implement our strategy of financial development, and further strengthen our market position,” Mechel’s Chief Executive Officer, Igor Zyuzin, commented.

Prior to his appointment as Acting CFO, Mr. Ploschenko served as Mechel’s Deputy CFO and Deputy Treasurer for Corporate Lending from June 2006 to June 2007. He previously held a number of senior positions at Commerzbank AG and Commerzbank (Eurasija) SAO. Mr. Ploschenko holds an MSc in International Securities Investment & Banking from the ISMA Centre at the University of Reading and a B.A. in International Finance & Trade from the University of Portsmouth (UK).