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4 April 2006

Novolipetsk Steel (NLMK) completes acquisition

Further to the announcement of March 29th, 2006, OJSC Novolipetsk Steel (LSE: NLMK) has completed the acquisition of 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. As previously stated, the deal was financed in full from NLMK’s existing cash funds.