OREANDA-NEWS. On April 15, 2008 Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announced that it has obtained Russian and Kazakh anti-trust regulatory approvals for Oriel's share capital acquisition, reported the press-centre of Mechel.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

In relation to the recommended cash offer made by Mechel for the entire issued and to be issued ordinary share capital of Oriel by means of an offer document (“Offer Document”) dated 26 March 2008, Mechel has received the necessary anti-trust clearances in Russia and Kazakhstan and therefore these conditions of the Offer have been satisfied.

The Offer remains subject to the terms and other conditions set out in the Offer Document.

Oriel Shareholders who have not yet accepted the Offer are urged:

(i) in respect of Oriel Shares held in certificated form, to complete, sign and return the relevant Form of Acceptance, in accordance with the instructions set out in the Offer Document and in the Form of Acceptance, so as to be received as soon as possible but in any event so as to be received no later than 1.00pm (London time) on 16 April 2008;

(ii) in respect of Oriel Shares held in CREST, to accept electronically through CREST so that the TTE instruction settles as soon as possible and, in any event, so as to be settled not later than 1.00pm (London time) on 16 April 2008; and

(iii) in respect of Oriel Shares held through a partipant of CDS, to accept by following the procedures for a Book-based Transfer established by CDS.

Full details of how to accept the Offer in respect of certificated and uncertificated Oriel Shares are set out in the Offer Document and, in the case of certificated Oriel Shares, the accompanying Form of Acceptance. Copies of the Offer Document and the Form of Acceptance can be obtained by contacting Computershare Investor Services PLC on telephone number + 44 870 707 1214.

Terms used in this announcement shall have the meaning given to them in the Offer Document, unless the context requires otherwise.

Enquiries
Companey, name                                                                                        Telephone
Mechel OAO
Alexander Tolkach, Head of International Affairs and Investor Relations  +7 (495) 221 8888

Merrill Lynch

Kevin Smith                                                                                             +44 (0) 20 7628 1000

Mark Echlin                                                                                              +44 (0) 20 7628 1000

George Close-Brooks                                                                                +44 (0) 20 7628 1000