Notification of transfer of shares in Evraz Group S.A. by Crosland Global Limited, and related placement of Evraz’s GDRs with insititutional investors *

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Notification of transfer of shares in Evraz Group S.A. by Crosland Global Limited, and related placement of Evraz’s GDRs with insititutional investors *

January 30, 2006 — Evraz Group S.A. (the Company, LSE: EVR), one of the leading vertically integrated steel production and mining businesses with operations mainly in Russia, announces that it has been notified today by Crosland Global Ltd. (the Transferor), its major shareholder, and BNY (Nominees) Limited (the Transferee), that the Transferor deposited with the Transferee, acting as custodian for The Bank of New York as depositary for the Company’s GDR facilities, 7,014,259 shares (the Deposited Shares), resulting in the issue of 21,042,777 global depository receipts (GDRs), representing approximately 6% of the Company’s issued share capital.

The Company understands that the transfer by Crosland Global Ltd. is pursuant to a placement of the GDRs to certain institutional investors that was completed on January 30, 2006 for a price of U.S. $18.50 per GDR. The Transferor is indirectly owned by, amongst others, Mr. Alexander Abramov, Mr. Alexander Frolov and Mr. Valery Khoroshkovsky. Mr. Khoroshkovsky is the Company’s Chief Executive Officer, and all three are members of its Board of Directors.

Acting on behalf of the Company, its Chief Executive Officer, Mr. Khoroshkovsky, has acknowledged and accepted the transfer of the Deposited Shares, and the Company has duly registered the transfer of the Deposited Shares in the register of Company’s shareholders.

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For further information:

Evraz Group
Corporate Affairs and Investor Relations
Irina Kibina
Tel: +7 (495) 232-13-70

This document is not an offer of securities for sale or a solicitation of an offer to purchase securities in the United States. The offer and sale of the securities has not been, and will not be, registered under the United States Securities Act of 1933, as amended (the Securities Act). The securities may not be offered or sold in the United States absent such registration other than pursuant to an applicable exemption from registration. There will be no public offering of the securities in the United States.

This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the Order) or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as relevant persons). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

Any offer of securities to the public that may be deemed to be made pursuant to this communication in any EEA Member State that has implemented Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the Prospectus Directive) is only addressed to qualified investors in that Member State within the meaning of the Prospectus Directive.

This press release is not a public offer or advertisement of securities in the Russian Federation, and is not an offer, or an invitation to make offers, to purchase any securities in the Russian Federation.