Conversion and completion of redemption of convertible bonds due 2014

Evraz Group announces that, further to its announcement on 24 June 2011, all the remaining outstanding convertible bonds due 2014 being US$100,000 in aggregate principal amount were redeemed on 4 August 2011. Earlier US$649,900,000 in aggregate principle amount of bonds were converted into the Company’s GDRs. Therefore, all 2014 convertible bonds were converted or redeemed.

Following the exercise of conversion rights prior to 4 August and the redemption of the bonds on 4 August, a total of 30,771,756 GDRs, representing 10,257,252 newly issued ordinary shares of the Company, have been issued. Accordingly, the Company’s share capital increased to 156,214,373 ordinary shares, out of which 52,239,058 ordinary shares are represented in the form of 156,717,174 GDRs, with three GDRs representing an interest in one ordinary share of the Company.