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Announcement of Cancellation of Notes

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Announcement of Cancellation of Notes

Evraz Group S.A. (the "Company") notifies that it cancelled on 1 December 2009:
• U.S.$144,100,000 in aggregate principal amount of the 2013 Notes (ISIN: XS0360055056);
• U.S.$173,300,000 in aggregate principal amount of the 2015 Notes (ISIN: XS0234987153); and
• U.S.$188,800,000 in aggregate principal amount of the 2018 Notes (ISIN: XS0359381331),
and on 4 December 2009
• U.S.$2,000,000 in aggregate principal amount of the 2018 Notes (ISIN: US30050AAB98);

All cancelled Notes were repurchased in the second half of 2008 and first half of 2009 and were reflected in the Company’s Interim Consolidated Financial Statements as of June 30, 2009.

As a result of the cancellation of the Notes by the Company as described above the aggregate nominal amount outstanding of the Notes have been altered in the following manner:

Aggregate nominal amount outstanding prior to cancellationAggregate nominal amount outstanding following cancellation
2013 Notes U.S.$1,300,000,000U.S.$1,155,900,000
2015 NotesU.S.$750,000,000U.S.$576,700,000
2018 NotesU.S.$700,000,000U.S.$509,200,000

A notice was issued by Bank of New York Mellon (the Company’s Listing Agent) via Business Wire (a financial information provider) and posted on the London Stock Exchange website on 2 December 2009 which purported to give details of cancellation of the Notes by the Company. This notice was issued without the authority of the Company and the figures contained in such notice reflected the position under only the XS ISINs and not the global position and as such were potentially misleading. As a result such notice should be disregarded and this notice is being issued to correct and clarify such notice and the information contained therein.

For further information

Media contact:
Alex Agoureev
VP, Public Relations
+7 985 122 4822
media@evraz.com

Investor contact:
Alexander Boreyko
Director, Investor Relations
+7 495 232 1370
ir@evraz.com