Moody's promotes MMK rating outlook

MAGNITOGORSK, 14 September 2007 – OJSC “Magnitogorsk Iron and Steel Works”, the largest one-site steel producer in Russia, and a consortium of international banks consisting of ABN AMRO, Deutsche Bank AG, and ING Wholesale Banking today signed a loan agreement amounting to EUR 365 million. This loan agreement enjoys insurance cover provided by EULER HERMES Kreditversicherungs-AG, Hamburg, acting on behalf and for the account of the Federal Republic of Germany. This 10-year financing will be utilised to finance supplies and services from SMS Demag AG, Germany, for the construction of a 5,000

Q1 2008 Results under Russian Accounting Standards Key Financial Highlights — Revenue increased by 21% to RUR 52,3 bln (RUR 43,1 bln in 1Q2007) — Operating income on the level of RUR 11,6 bln (RUR 11,7 bln in 1Q2007) — Net income (net of the effect of financial investments revaluation) grew by 2% to RUR 8,5 bln (RUR 8,4 bln in 1Q2007) Key Operational Highlights — Crude steel production up 14% to 3.6m tons compared to 1Q07 — Commercial steel products output increased 12% to 3.3 m tons (1Q2008 to 1Q2007) — A rise in product prices across the board compared to the end of 2007, including 22% for

An annual general meeting of Magnitogorsk Iron & Steel Works (MMK) stockholders was held in Magnitogorsk recently. The shareholders decided to declare a dividend of 0.33 RUR per one ordinary share for the year 2010. They also decided that MMK Management Company should no longer be the sole executive body and that these powers should be relegated to MMK Director-General. The person elected for the position was Boris Dubrovsky, MMK press service reports. Boris A. Dubrovsky was born in Magnitogorsk, Chelyabinsk Region, on November 22, 1958. He graduated from Magnitogorsk Mining &

The consortium of Russian Directors Institute and Expert RA (a rating agency) promoted Magnitogorsk Iron & Steel Works (MMK) corporate governance rating to eight (on a ten-point scale), which corresponds with the Well-Developed Corporate Governance Practice on the National Corporate Governance Rating scale. This means the company complies with the Russian corporate governance legislation, follows most of the recommendations prescribed in the Russian Corporate Behavior Code and some of the recommendations prescribed by the advanced international corporate governance policy. According to

Magnitogorsk Iron & Steel Works (MMK) took part in the 3d conference on corporate web portals and blogs for metallurgical businesses. The event was coordinated by Metallosnabzheniye I Sbyt (the magazine), the Russian Union of Metal Goods Suppliers, and Metal-Expo. The conference was part of the international industrial fairs devoted to metallurgical machinery, technologies, and produce (Metallurgy. Litmash 2008), Russian pipes (Pipes. Russia 2008), and non-ferrous metals (Aluminum/Tsvetmet 2008) held in Moscow on May 27-30, 2008. The 3d conference on corporate web portals and blogs for