Mechel Reports Decision of Extraordinary Shareholder Meeting

Mechel Reports Decision of Extraordinary Shareholder Meeting

MOSCOW, Oct. 16, 2013 (GLOBE NEWSWIRE) -- Mechel OAO (NYSE:MTL), one of the
leading Russian mining and metals companies, reports that its extraordinary
general shareholders' meeting approved issuing of guarantee by Mechel OAO for
performance of Mechel Group sellers' obligations under the sale-purchase
agreement (including but not limited to sellers' warranties) to the buyer,
Yildirim Group. This guarantee is a condition precedent for the deal's
closure.

According to the sale-purchase agreement signed in July 2013, Mechel Group
sells its 100% stake in Tikhvin Ferroalloys Plant and Voskhod Mining Plant.
Mechel Group's companies act as formal sellers and an SPV within Yildirim
Group acts as a buyer. The deal amounts to 425 million US dollars. The deal is
due to be closed by the end of 2013.

Editor's note:

Tikhvin Ferroalloy Plant – Located in Tikhvin, Leningrad Region, it is a
modern enterprise of a capacity to produce up to 120,000 tonnes per annum of
high-carbon ferrochrome used to produce stainless steel. As raw material, the
plant uses the chrome ore concentrate produced at Voskhod mining plant.

Voskhod Mining Plant–Located in Khromtau, Kazakhstan, it includes a modern
chrome ore mine and a beneficiation plant for further processing of the ore
and producing chrome ore concentrate. Voskhod's proved and probable reserves
total 20 million tonnes of ore according to JORC standards.

Yildirim Group —a Turkey-based private diversified industrial group
comprising enterprises from ten different industries in various countries. The
Group is the owner of ETI KROM INC., Turkey's largest producer of chrome ore
as well as high-quality high-carbon ferrochrome, and of VARGÖN ALLOYS AB, one
of the oldest ferrochrome plants in Sweden. The Group is the world's largest
hard lumpy chrome ore producer as well as the world's second largest
high-quality high-carbon ferrochrome producer.

Mechel is an international mining and steel company which employs over 80,000
people. Its products are marketed in Europe, Asia, North and South America,
Africa. Mechel unites producers of coal, iron ore concentrate, steel, rolled
products, ferroalloys, heat and electric power. All of its enterprises work in
a single production chain, from raw materials to high value-added products.

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
         Elena Andreyeva
         Tel: +7 495 221-88-88
         Elena.andreeva01@mechel.com

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