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OAO Severstal (SVST)

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Friday 01 February, 2008

OAO Severstal

Cherepovets Blast Furnace

OAO Severstal
01 February 2008

Severstal to resume operations at Cherepovets Blast Furnace within a few days.

OAO Severstal announced today that operations at Blast Furnace No. 5 at its
Cherepovets steel plant will resume as early as this weekend, following a fire
yesterday which resulted in the death of a Severstal employee and injury to two

Severstal Cherepovets Steel Mill Director-General Anatoly Kruchinin said: 'The
procedures we have put in place will serve to minimise the impact of the
incident on production'.

The Commission set up to investigate the incident is at this stage considering
two possible causes of the incident: a partial failure of refractories resulting
in local overheating of the armour of the air conduit and its subsequent
rupture, and the failure of a weld on the Cowper stove.

The Blast Furnace should resume operations using three Cowper stoves in a
process ensuring standard productive capacity as early as Saturday, while
repairs of the failed stove will be carried out at the same time.

Severstal is offering every possible assistance to the family of the dead man,
61-year old Shift Supervisor Leonid Glagolev. The company's thoughts and prayers
are with his family and friends.

The injured workers were taken to hospital. One remains there, in a stable
condition. The other has been discharged.

                      This information is provided by RNS
            The company news service from the London Stock Exchange