January 28 2011, Olenegorsk.

ОАО Olcon (the Olenegorsk Iron Ore Complex, part of OAO Severstal’s mining division) has successfully passed a second supervisory audit of its quality management system in compliance with ISO 9001:2008 international standards.

Experts from the Bureau Veritas Certification Russia, an independent certification authority, spent a week observing at first hand OAO Olcon’s quality management system and concluded that the system is in good working order and worthy of extended certification.

The auditors noted that one of OAO Olcon’s strengths is the senior management team’s continued focus on the proper functioning of the quality management system. The auditors also praised the reliability and competence of the company’s employees, the company’s consumer-oriented approach, close production monitoring, and cutting-edge production control methods.

Vasily Chernykh, CEO of OAO Olcon, commented: “The original award of the ISO 9001 Certificate in 2009 and this recent confirmation that the Olcon quality management system continues to operate in accordance with the highest international standards is incredibly important both to us and our business partners. We will continue to work in accordance with both the most rigid international standards and, of course, Severstal’s companywide values.”

ОАО Olcon (Olenegorsk Iron Ore Complex) is part of the mining division of OAO Severstal, one of the world’s leading integrated steel and mining companies. The Cherepovets Steel Mill is the principal consumer of Olcon’s iron ore concentrate. In 2009 Olenegorsk Iron Ore Complex shipped 4.8 mln metric tonnes of iron ore concentrate to its customers.

ОАО Severstal is one of the world’s leading integrated steel and mining companies, with assets in Russia, the Ukraine, Kazakhstan, Italy, France, the USA and Africa. The Company’s shares are traded on the Russian Trading System (CHMF), MICEX (CHMF, RTS) and LSE (SVST). In 2009 Severstal reported revenue of over $13 billion and EBITDA of $844 million*. Severstal’s mining assets in Russia and the USA mean that the Company has strong self-sufficiency in coking coal and iron ore in Russia, and good self-sufficiency in coking coal in the USA. Severstal’s gold business, part of its Resources

Division, is Russia’s second largest gold producer.
* Figures from Severstal annual report and include Lucchini.

For further information
Severstal PR in Olenegorsk 
Valeria Popova va.popova@olcon.ru +7 (81552) 5-51-94
in Moscow
Sergey Loktionov, sergei.loktionov@severstal.com +7(495) 926 7767 ext. 6446#

Hudson Sandler
Andrew Hayes / Maria Ignatova
+44 (0)20 7796 4133

UNPUBLISHED ARTICLES