Mechel Reports Board of Directors' Decision

Mechel Reports Board of Directors' Decision

MOSCOW, April 30, 2013 (GLOBE NEWSWIRE) -- Mechel OAO (NYSE:MTL), one of the
leading Russian mining and metals companies, announces its Board's dividend
recommendation.

On April 30, 2013, Mechel's Board of Directors held a meeting confirming
recommendations to the annual general shareholders' meeting regarding the
payment of dividends based upon the results of the 2012 fiscal year:

  *the Board recommended not to pay an annual dividend with respect to
    ordinary shares;
  *the Board recommended an annual dividend of 0.05 rubles per one preferred
    share (approximately $0.0016 per one preferred share and $0.0008 per one
    preferred ADR*).

Dividends must be paid within 60 days of being declared at the annual general
shareholders' meeting.

The Board recommended to Mechel OAO's general shareholders' meeting to divide
profit from the 2012 fiscal year as follows:

  *to allocate 6,937,845.75 rubles (approximately $221,969.16*) for payment
    of dividends for listed preferred shares;
  *to leave 19,174,169,396.24 rubles (approximately $613,457,599.88*)
    unallocated.

The list of persons entitled to take part in the general shareholders' meeting
and the list of persons entitled to receive dividends for the 2012 fiscal year
will be made based on the data in the Shareholders' Register as of May 17,
2013. The annual general shareholders' meeting will be held on June 28, 2013,
at the address: 1 Krasnoarmeyskaya Ul., Moscow, Russian Federation.

* Based on the Russian Central Bank exchange rate of 31.2559 RUR/$ as of April
30, 2013.

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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