OREANDA-NEWS. July 18, 2007. An interested party transaction made by a joint stock company which, in accordance with the Russian Federation law, must be approved by a competent governing body of such company, in case the value of such transaction is 5 or more per cent of the book value of the company's assets based on the accounting data as of the latest accounting date prior to the approval of such transaction by such governing body, reported the press-centre of MMK.

1. General Information
1.1. Full Official Name of the Issuer Open Joint Stock Company Magnitogorsk Iron and Steel Works
1.2. Abbreviated Official Name of the Issuer OJSC MMK
1.3. Location of the Issuer Ul.Kirova 93, Magnitogorsk, Chelyabinsk Region, 455000, Russia
1.4. Main State Registration Number (OGRN) of the Issuer 1027402166835
1.5 Taxpayer Identification Number (INN) of the Issuer 7414003633
1.6. Unique Code of the Issuer Assigned by the Registration Authority 00078-A
1.7. Web-site Address Used by the Issuer for Information Disclosure http://www.mmk.ru/rus/shareholders/information/infsecur/index.wbp

2. Content of the Statement
An interested party transaction made by a joint stock company which, in accordance with the Russian Federation law, must be approved by a competent governing body of such company, in case the value of such transaction is 5 or more per cent of the book value of the company's assets based on the accounting data as of the latest accounting date prior to the approval of such transaction by such governing body.
Date of the transaction: 17.07.2007

Parties to the transaction, beneficiaries under the transaction, subject and value of the transaction:
Parties to the transaction: OJSC MMK, BNP Paribas (Suisse) SA, Geneve, Switzerland
Beneficiaries under the transaction: MMK Trading AG , Zug, Switzerland
Subject of the transaction: First Demand Guarantee between OJSC MMK and BNP Paribas (Suisse) SA, Geneve, under the Facility Agreement between BNP Paribas and MMK Trading AG

Transaction value: not more than USD 450,000,000 (with equivalent in rubles at the CB of Russia's exchange rate as of the date of transaction being RUB 11,462,760,000), or 9,09% of the book value of the Issuer's assets as of the ending date of the last accounting period before the date of transaction;

Information on the approval of the transaction by a competent body of the company (name of the company's competent governing body and the date of resolution): Annual General Shareholders' Meeting, March 03, 2007, Minutes # 22.

3. Signature
3.1. Corporate Secretary of OJSC MMK № 16-yur-47 dd. 07.02.2007.                               
V.N. Khavantseva