On October 17, 2008, RTS open joint-stock company made a decision on transfer of Mechel OAO's ordinary registered book-entry shares, state registration number 1-01-55005-E as of April 29, 2003, onto A2-level quotation list of securities admitted for trading on the RTS.

Mechel OAO's ordinary registered shares have been listed on RTS OAO quotation list B since June 29, 2004.

Shares of the other issuers currently trading within the A2-level quotation list include: Aeroflot OAO, Tatneft OAO, Mosenergo OAO, Rostelecom OAO.

Shares of the Company are already listed on the New York Stock Exchange and the MICEX Stock Exchange Closed Joint-Stock Company. Mechel OAO has issued a total of 416,270,745 ordinary shares with a nominal value of 10 (ten) rubles each.

"The transfer of Mechel's shares into the higher-level quotation list is reflective of the Company's leadership position, allows the potential for Mechel to raise its liquidity and increases the Company's exposure to a broader scope of prospective investors notwithstanding the current situation in the worldwide stock markets. Looking forward, we are certain, that as a result of our strategic investment program, which is targeted at enhancing the mining business and increasing the efficiency of out steel segment, we will be able to strengthen our position in the world market, increase synergies and promote production profitability, that will altogether allow us to increase shareholder value," Mechel OAO Chief Financial Officer Stanislav Ploschenko commented.

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

Mechel is one of the leading Russian companies. Its business includes three segments: mining, steel, and power. Mechel unites producers of coal, iron ore concentrate, nickel, steel, rolled products, hardware, heat and electric power. Mechel products are marketed domestically and internationally.

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.

Mechel OAO

CONTACT: Ilya Zhitomirsky of Mechel OAO, +7-495-221-88-88,ilya.zhitomirsky@mechel.com

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