OREANDA-NEWS. July 21, 2008. OAO Severstal (LSE: SVST; RTS: CHMF; “Severstal”), one of the world's leading metals and mining companies, today announced that it has extended the expiration date for its tender offer to purchase all outstanding shares of Esmark Incorporated (NSDQ: ESMK; “Esmark”), at an offer price of \\$19.25 per share, to 10:00 a.m., Eastern Daylight Time, on Monday, August 4, 2008. 

The tender offer has been extended to allow for the expiration of the review period by the Committee on Foreign Investment in the United States (CFIUS) under the Exon-Florio Amendment to the Defense Production Act of 1950, as amended.  The CFIUS review period is expected to expire at 11:59 p.m., Eastern Daylight Time, on Friday, August 1, 2008.

As of the close of business on July 18, 2008, a total of 34,366,906 shares of common stock of Esmark, which represents approximately 86.98% of the outstanding Esmark shares, have been tendered and not withdrawn pursuant to the tender offer. 

Merrill Lynch is the Dealer Manager and Citibank, N.A. is the Depositary for the tender offer. Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal counsel to Severstal. Questions and requests for documentation in connection with the tender offer may be directed to MacKenzie Partners, Inc., the Information Agent for the tender offer, at (800) 322−2885 (toll-free) or (212) 929−5500 (collect).