OREANDA-NEWS. The Magnitogorsk Iron and Steel Works Open Joint Stock Company (OJSC MMK) hereby announces early termination of the repurchase transaction entered into by Mintha Holding Limited ("Mintha") and Deutsche Bank on June 19, 2006.

In accordance with the terms and conditions of the repurchase transaction Mintha sent a notice to Deutsche Bank regarding such termination, and repurchased 783,000,000 OJSC MMK shares.

The shares were transferred to Mintha's account on June 8, 2007.

Thus, Mintha currently owns 5,168,708,498 OJSC MMK shares which accounts for 44.28 per cent of the total OJSC MMK shares outstanding.