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OAO Severstal (SVST)

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Monday 18 June, 2007

OAO Severstal

Result of AGM

OAO Severstal
18 June 2007


For Immediate Release
18 June 2007                          

                          OAO Severstal - Result of AGM

At Annual General Meeting held on 15 June the following resolutions were passed:

1. Elect A.A. Mordashov, M.V. Noskov, A.N. Kruchinin, V.A. Makhov, V.A.
   Shvetsov, Christopher Clark, Ronald Freeman, Peter Kraljic, Martin Angle,
   and Rolf Stomberg to the Board of Directors of OAO Severstal;

2. Approve the Annual Report, Annual Accounting Statements, including the Income
   Statement ;

3. Allocate profit based on financial year results. Dividends for the 2006
   results to be paid in the amount of five (5) rubles per one ordinary
   registered share. Profit based on 2006 results not earmarked for the payment
   of dividends for the 2006 results shall not be allocated;

4. Elect (appoint) Alexey Alexandrovich Mordashov, Chief Executive Officer of
   OAO Severstal, for a period of three (3) years;

5. Approve OAO Severstal Charter (new version));

6. Approve the Regulations for OAO Severstal Board of Directors (new version);

7. Elect Roman Ivanovich Antonov, Alexei Igorevich Guryev, and Sergei
   Nikolayevich Fedoseyev to the OAO Severstal Inspection Commission;

8. Approve  CJSC KPMG as OAO Severstal's Auditor;

9. Approve the interested-party transaction (a number of interrelated
transactions) between OAO Severstal and OAO Promishlenno-Stroitelniy Bank
(Bank), PSRN 1027800000271 for the placement of temporarily surplus funds in
deposit (deposits) in the RF currency and foreign currency at an interest rate
of no less than 3 % per annum within the limits of the amount of One hundred
fifty billion (150 000 000 000) rubles

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