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Evraz Group S.A. completes acquisition of Vitkovice Steel

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Evraz Group S.A. completes acquisition of Vitkovice Steel

Moscow, November 15, 2005 — Evraz Group S.A. (LSE: EVR), one of the leading vertically integrated steel production and mining businesses with operations mainly in Russia, today announces the completion of the acquisition of 98.96% of the shares of Vitkovice Steel, the largest platemaker in the Czech Republic, for approximately ?240 million.

The acquisition is in line with Evraz Group’s stated strategy to achieve growth through focused acquisitions of re-rolling assets outside Russia. Leveraging Vitkovice Steel’s position as a producer of high quality steel plate, Evraz will seek to increase its market share and to secure its client base, as well as to capture additional margins from the sale of higher value-added steel products in the European market.

The acquisition was financed by a combination of debt and cash. The debt finance was provided by a bank consortium led by ABN AMRO N.V. and Commerzbank. OSINEK a.s., a 100% subsidiary of the National Property Fund of the Czech Republic, acted as the seller. ABN AMRO N.V. served as a financial advisor.

Commenting, Alexander Abramov, Evraz Group Chairman and Chief Executive Officer, said, “We are very pleased with the completion of the acquisition of Vitkovice Steel, one of the largest steel enterprises in the Czech Republic. We believe that the integration of Vitkovice Steel into Evraz Group will contribute to its development into a world—class business.”

For further information:

Evraz Group
Corporate Affairs and Investor Relations
Irina Kibina
Tel: +7 095 232 1370
ir@evraz.com

Merlin
Michael Rummel
Lachlan Johnston
Maria Suleymanova
Tel: +44 207 653 6620
msuleymanova@merlinpr.com