Корпоративное действие SEVERSTAL (REG S) — a voluntary tender offer

Euroclear bank has been advised of a voluntary tender offer made
By severstal to repurchase up to 170,000,000 common shares, each
With a nominal value of rub 0.01 (the -shares-), representing
Approximately 16.87 percent of the issued and. Outstanding share
Capital of severstal, with a view to cancelling them subsequently.

Gdr offer period:

From 21/05/12 until 14/06/12.

Gdr offer price:

The gdr offer price will be determined by the depositary as
Promptly as practicable following the local pay date at a market
Exchange rate available to the depository

Pay date:

Within 5 business days of the local pay date which is expected to
Be on or around 26/06/12.

Pro-ration:

If the number of shares tendered for the offer exceeds the
170,000,000 shares to be repurchased by severstal, severstal will
Pro-rate each shareholder’s tendered shares,
Including the depositary, as legal owner of the shares
All fractional shares and/or gdrs that are tendered as a result
Of any pro-rata calculation will be rounded down to nearest whole
Number.

Withdrawal rights:

A gdr holder who has accepted the offer will not be entitled to
Withdraw its acceptance from the offer.

Fees:

Usd 0.05 per gdr tendered and subsequently cancelled and usd 0.02
Per gdr for the distribution of proceeds resulting from the Purchase of shares.

The full terms and conditions and the required certification form
For the above mentioned dr facility is available at
Www.eurocler.com