OJSC Magnitogorsk - MMK APPOINTS DEPUTY CEO ON FINANCE AND ECONOMICS

Open Joint Stock Company

Magnitogorsk Iron (MCX: MAGN.ME - news) and Steel Works

Press Release

January 23, 2012 Magnitogorsk, Russia

OJSC MMK APPOINTS DEPUTY CEO ON FINANCE AND ECONOMICS (CFO)

According to the Order of MMK CEO Boris Dubrovsky, Alexander Andrianov was appointed Deputy CEO on Finance and Economics (CFO).

Andrianov, born 1966, is a graduate of Leningrad State Technical University (1992) and Moscow State Academy of Management (1995). In 2003 he got a diploma from Newcastle Business School.

Adrianov's career growth is solely connected with the steel business. In 1992, he joined the IT team of Cherepovets Metal Works as a computer programmer. Upon graduating from Moscow State Academy of Management he was appointed head of department at Severstal (MCX: CHMF.ME - news) to eventually become the company's CFO. During the past year Andrianov held the post of Chief Executive Officer of the Ukrainian Company Smart-Holding and sat on the Supervising Board of the Metinvest Group.

About MMK

MMK is among the world's largest steel producers and is one of the leaders of Russia's steel industry. The company's operations in Russia include a large steel producing complex encompassing the entire production chain, from preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of higher value added products. In 2010 MMK Group produced 11.4 mln tons of crude steel and 10.4 mln tons of commercial steel products. The Group's revenue in 2010 stood at USD 7,719 m, with EBITDA at USD 1,606 m and net profit of USD 232 m.

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