MOSCOW, September 21 /PRNewswire/ --

Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals
companies, announces formation and membership of the Company's new collegial
executive body (Management Board).

At a meeting of the Mechel OAO Board of Directors held on September 18,
2007, the Board adopted a resolution on the Management Board membership. The
following persons were elected members of the Mechel OAO Management Board:

Igor Zyuzin, Mechel OAO CEO and new Management Board Chairman; Alexey
Ivanushkin, Mechel OAO COO; Stanislav Ploschenko, Mechel OAO acting CFO;
Victor Trigubko, Mechel OAO Senior Vice President for Government Relations;
Irina Ipeeva, Mechel OAO Director of Department of Corporate Management and
Property; Evgeny Mikhel, Mechel OAO Vice President for Legal Affairs; Oleg
Rozenberg, Mechel Management OOO Deputy CEO for Foreign Trade; Elena
Selivanova, Mechel Management OOO Director of Human Resources Department;
Elena Tuvaeva, Mechel Management OOO First Deputy CEO.

The resolution approving the "Bylaw on the Collegial Executive Body
(Management Board)" of Mechel OAO was adopted by the Extraordinary General
Shareholders' Meeting of Mechel OAO conducted on August 6, 2007. The creation
of the Management Board enables the Company's management team to take
decisions after consultation with the members of the Management Board of the
most important business of the Company.

Mechel is one of the leading Russian mining and metals companies. Mechel
unites producers of coal, iron ore, nickel, steel, rolled products, and
hardware. 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.