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Raspadskaya calls off negotiations to merge with Yuzhkuzbassugol


Moscow, 19 March 2008 – OAO Raspadskaya, one of Russia’s leading coking coal producers, has announced today that the negotiations with Evraz Group to merge with its Yuzhkuzbassugol have been terminated.

At the moment, Raspadskaya is one of the most efficient coking coal producers in Russia and worldwide and the managing shareholders have considered necessary to focus on the strategic development of Raspadskaya itself as well as implementation of its long-term business development plans.

Raspadskaya’s General Director Gennady Kozovoy said: “My holding of two executive roles at both coal companies and daily cooperation of specialists there has already allowed to stabilise Yuzhkuzbassugol’s performance in the areas of operational safety, technical planning and reliability of its coal supplies. That is why I intend to focus my future efforts at managing Raspadskaya itself. Our relations with Evraz Group will not change because they are based on our long-standing strategic and market cooperation.”

Chairman of the Board of Directors Alexander Vagin added: “We value highly our investors’ trust and we are acting in the interest of all shareholders of the company.”

About Company

OAO Raspadskaya is situated in the Kemerovo region of Russia. Company comprises two underground mines, one open-pit operation, a coal preparation plant and one underground mine under construction, as well as a coal transportation network and a number of integrated infrastructure companies. Raspadskaya is one of the leading Russian coking coal producers whose customers include major steel and coking plants in Russia, Ukraine as well as Eastern Europe and Asia. Raspadskaya produced 13.55 million tonnes of raw coal in 2007. 80% of Raspadskaya's ordinary shares are held by Corber Enterprises Limited, an entity ultimately owned by Raspadskaya management and Evraz Group on a parity basis.

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For further information please visit www.raspadskaya.com or contact:

Media Relations
+7 (495) 147 15 16 Alexander Andreev

Investor Relations
+7 (495) 147 15 16 Oleg Kuzakov

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