MECHEL ANNOUNCES APPOINTMENT OF MECHEL-ENERGO OOO CHIEF EXECUTIVE OFFICER

Moscow, Russia – August 4, 2011 - Mechel OAO (NYSE: MTL), one of the leading
Russian mining and metals companies, announces the appointment of Anatoly
Merzlyakov as the new Chief Executive Officer of Mechel-Energo OOO. Mr.
Merzlyakov replaces Sergei Zorin, who was acting chief executive officer.
Anatoly Merzlyakov, 59, will continue to streamline the financial,
administrative and production activities of all of Mechel Group’s energy
generating and sales companies, as well as tackle their social and economic
issues.
Mr. Merzlyakov has many years of experience working in the industry as a senior
executive in several private and state-owned energy companies.
Prior to his appointment, in 2008-2009 Mr. Merzlyakov worked as a deputy chief
executive officer in the Russian Housing Development Foundation. In 2006-2008,
he was chief of the Upper Volga department and first deputy general director in
the Interregional Distribution Grid Company of central Russia and North
Caucasus. Before that, in 1998-2005 Mr. Merzlyakov worked as chief executive
officer in Lipetskenergo OAO.
Mr. Merzlyakov graduated from Moscow Energy Institute with a specialty in
industrial heat energy systems.
Mr. Merzlyakov has been granted state awards — the titles of Honorary Energy
Worker, Meritorious Employee of Russian Federation’s Energy Ministry,
Meritorious Employee of Russia’s United Energy System, Honorary Energy Complex
Worker. He was also awarded with the industry medal of 85th anniversary of
GOELRO plan and the honor medal for Merit in Russian Energy Industry.

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Mechel OAO
Ekaterina Videman
Phone: + 7 495 221 88 88
ekaterina.videman@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, nickel, steel, ferrochrome, ferrosilicon, rolled products,
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.