OJSC MMK announces that a meeting of the MMK Board of Directors was held today, April 20, 2012. Resolutions passed by the Board are specified below.

The Board issued a recommendation for the MMK Annual General Shareholder Meeting (AGM) to consider approving the Board-nominated Company Auditor.

The Board preliminary approved the Company’s 2011 Annual Report.

The Board recommended that the MMK AGM scheduled for May 25, 2012 declares no dividends to be paid for FY 2011.

The Board has outlined the scope of documents (information) to be forwarded as reference to the shareholders prior to the AGM and approved the order in which those documents (information) have to be presented.

To check and review the above reference information the Company shareholders may visit the offices of Status Registrar Company in Magnitogorsk (9, Zavenyagina St.) or MMK Shareholder Desk (70, Kirova St.) after April 24, 2012. Office hours: Mon-Fri, 9:30 am-5:30 pm local time (both locations are closed for break 12:00 pm-1:00 pm).