Mechel Secures Restructuring of a 1-Billion-Dollar Syndicated Loan

Mechel Secures Restructuring of a 1-Billion-Dollar Syndicated Loan

MOSCOW, Dec. 5, 2012 (GLOBE NEWSWIRE) -- Mechel OAO (NYSE:MTL), one of the
leading Russian mining and metals companies, announces signing an amendment
and restatement agreement in relation to a syndicated pre-export loan
totalling 1 billion US dollars in order to further improve the liquidity of
the company.

The amendment and restatement agreement on the syndicated loan was signed by a
number of major international banks, including ING Bank N.V., Societe
Generale, UniCredit, BNP Paribas SA, ABN AMRO Bank N.V., Commerzbank
Aktiengesellschaft, Raiffeisen Bank International AG, VTB, Natixis,
Caterpillar Financial Services Corporation, ICBC (London) plc. The borrowers
are Mechel's chief mining division enterprises —Yakutugol Holding Company OAO
and Southern Kuzbass Coal Company OAO. The syndicated loan, which was in a
monthly repayment phase, will now benefit from a grace period of 12 months,
followed by repayment in equal monthly installments until August 2015.

The amendments were signed under the pre-export loans which were granted in
September 2010 to Mechel's main operating companies Chelyabinsk Metallurgical
Plant OAO, Yakutugol Holding Company OAO, Southern Kuzbass Coal Company OAO
and Southern Urals Nickel Plant OAO.

The process was coordinated by ING Bank N.V., Societe Generale, UniCredit,
Joint Stock Commercial Bank "ROSBANK" and ABN AMRO Bank N.V.

"The old syndicate entered the amortization stage, which would require us to
set aside some 600 million dollars of liquidity in order to service it by the
end of 2013. Amending this credit is a key step in cutting down short-term
debt through securing a grace period. At the same time, we managed to obtain a
more favourable security package, improve the covenant and overall structure
of the loan. This successful deal demonstrates the high level of trust and
support our banking partners lend the company, despite the volatility of the
global markets. It is also remarkable that in the current challenging
environment new international financial institutions such as ABN AMRO Bank
N.V., Caterpillar Financial Services Corporation and ICBC (London) plc.
decided to join the syndicate," Mechel OAO's Chief Financial Officer Stanislav
Ploschenko noted.

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, ferrochrome, ferrosilicon, steel, rolled
products, hardware, heat and electric power. Mechel products are marketed
domestically and internationally.

The Mechel OAO logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=8181

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.

CONTACT: Mechel OAO
         Pavel Taran
         Tel: +7 495 221-88-88
         pavel.taran@mechel.com

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