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Mechel Receives Lenders' Approval on Waivers and Amendments to Credit Facilities



Mechel Receives Lenders' Approval on Waivers and Amendments to Credit
Facilities

MOSCOW, April 4, 2013 (GLOBE NEWSWIRE) -- Mechel OAO (NYSE:MTL), one of the
leading Russian mining and metals companies, announces reaching an agreement
with an international syndicate of lender banks on getting approval for
waivers and amendments to certain major credit facilities.

Mechel's talks with over 25 leading international and Russian banks regarding
some financial covenants our subsidiary Mechel Mining expected to breach under
its US$ 1 billion pre-export facility due to uncertain market conditions and a
period of decline in market prices for its products, were successfully
completed in a very short time.

Lenders reconfirmed their long-standing and full support through their
agreement to the waivers and changes to financial covenants for 2013, as well
as certain changes to the financial covenants. The changes to these parameters
will increase Mechel Group's financial and operational flexibility, which is
important considering volatility on key financial and commodity markets.

"The international bank syndicate's decision once again confirms their high
trust in Mechel Group as a quality borrower despite volatility on our key
markets. By their agreement, the lenders demonstrated Mechel their support for
its development strategy, where ongoing deleveraging measures are a key part.
It must also be noted that the agreement with the international lender bank
syndicate will enable the Group to continue implementing several key
large-scale investment projects announced earlier, aimed at consolidating its
leading positions in mining and steelmaking," Mechel OAO's Chief Financial
Officer Stanislav Ploschenko said.

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.

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
         Anton Lapin
         Tel: +7 495 221-88-88
         antonlapin@mechel.ru

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