Trading update for Q1 2009

Novolipetsk Steel today announces the following regular trading update for Q1 2009.

Production:
  - Crude steel: 2.1 mln tn (+21% quarter-on-quarter)
  - Finished products: 2.2 mln tn (+26% quarter-on-quarter)

Sales:
  - Total sales: 1.95 mln tn (+4% quarter-on-quarter), including:
  - Slabs: 0.6 mln tn (-17% quarter-on-quarter)
  - Billets: 0.02 mln tn (-76% quarter-on-quarter)
  - Flat products: 1.1 mln tn (+37% quarter-on-quarter)
  - Long products: 0.2 mln tn (-7% quarter-on-quarter)
  - Metal-ware: 0.04 mln tn (+21% quarter-on-quarter)

Growth drivers
  - Partial recovery in demand in export markets
  - Revival of demand in the domestic market in late Q1 2009 due to restocking at the Russian trading and production    companies is partially attributable to ruble devaluation and price stabilization in February and March.