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29 March 2006

Novolipetsk Steel (NLMK) agrees to acquire 82% interest in coke producer JSC "Altai-koks" and 100% interest in Group of Coal Companies "Prokopievskugol"

OJSC Novolipetsk Steel NLMK (LSE: NLMK) is pleased to announce that it has agreed to acquire from a group of investors an 82% interest in "Altai-koks", coke-chemical plant, and a 100% interest in holding company Kuzbass Asset Holdings Limited, Gibraltar, which owns 100% of interest in "Prokopievskugol" Coal Company for about USD 750 million. The acquisition is to be financed in full from NLMK’s existing cash funds.

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