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2 May 2006

OJSC Novolipetsk Steel (NLMK) Completes Tender Offer for Ordinary Shares in OJSC "KMA Ruda"

OJSC Novolipetsk Steel (NLMK) announces that it completed a tender offer for OJSC KMA Ruda ordinary shares on 27 April, 2006. As a result of the tender offer, NLMK purchased 8.59% ordinary shares increasing its ownership in KMA Ruda to 84.85%.

KMA Ruda is a mining company located within 350 kilometers of NLMK’s production facilities in Lipetsk. The company holds a leading position among Russian deep-mining companies. KMA Ruda supplies NLMK with iron ore concentrate.