Bruno Bolfo in the Board of Directors

OJSC Novolipetsk Steel  announces the results of voting at the Annual General Meeting held on June 5, 2007.

NLMK’s shareholders approved the final dividend for 2006 of RUR 3.0 per ordinary share.

Including the interim dividend of RUR 1.5 per ordinary share. Payment

of the dividend on ordinary shares will be made before September 3, 2007.

NLMK shareholders have elected nine members to the Board of Directors: Vladimir Lisin (Chairman), Oleg Bagrin, Bruno Bolfo (Duferco, independent director), Igor Fyodorov, Nikolai Gagarin, Dmitry Gindin (independent director), Karl Doering (independent director), Randolph Reynolds (independent director), Vladimir Skorokhodov.

Thus, NLMK currently has four independent directors.