MECHEL OAO ANNONCES INCLUSION OF ITS SHARES ON MICEX QUOTATION LIST A1

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.
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Mechel OAO
Ilya Zhitomirsky
Phone: + 7 495 221 88 88
ilya.zhitomirsky@mechel.com

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Mechel is one of the leading Russian companies. Its business includes four
segments: mining, steel, ferroalloy and power. Mechel unites producers of coal,
iron ore concentrate, steel, rolled products, ferroalloys, hardware, heat and
electric power. Mechel products are marketed domestically and internationally.
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Some of the information in this press release may contain projections or other
forward-looking statements regarding future events or the future financial
performance of Mechel, as defined in the safe harbor provisions of the U.S.
Private Securities Litigation Reform Act of 1995. We wish to caution you that
these statements are only predictions and that actual events or results may
differ materially. We do not intend to update these statements. We refer you to
the documents Mechel files from time to time with the U.S. Securities and
Exchange Commission, including our Form 20-F. These documents contain and
identify important factors, including those contained in the section captioned
“Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in our
Form 20-F, that could cause the actual results to differ materially from those
contained in our projections or forward-looking statements, including, among
others, the achievement of anticipated levels of profitability, growth, cost and
synergy of our recent acquisitions, the impact of competitive pricing, the
ability to obtain necessary regulatory approvals and licenses, the impact of
developments in the Russian economic, political and legal environment,
volatility in stock markets or in the price of our shares or ADRs, financial
risk management and the impact of general business and global economic
conditions.