11 May 2006

Novolipetsk Steel (NLMK) included in MSCI Emerging Markets Index

OJSC Novolipetsk Steel (LSE: NLMK) is pleased to note today’s announcement that the Company’s Global Depositary Shares (GDSs) will be included in the Morgan Stanley Capital International (MSCI) Emerging Markets Index effective 31 May, 2006. As a result the pro-forma weight of NLMK GDS in the index will increase to 0.12%.

NLMK is the first Russian steelmaker to be added to MSCI Emerging Markets Index. The decision by MSCI to include NLMK’s GDSs in its Emerging Markets Index will provide the opportunity for equity participation to a wider range of international investors. The index is traditionally used by fund managers worldwide to measure stock performance in emerging markets and allocate assets accordingly.

Anton Bazulev, NLMK’s spokesman, commented:
“NLMK’s inclusion in the index is expected to raise the Company’s international profile and make its shares more attractive to a wider group of international portfolio managers.”


Maria Simonova

Press Secretary

+7 (915) 322-62-25

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