OREANDA-NEWS. On October 26, 2007 Centroferve Limited (“Centroferve”) announced that, following the announcement on 28 September 2007 of its all cash offer of ?2.70 per ordinary share (the “Offer”) for the entire issued and to be issued ordinary share capital of Celtic Resources Holdings plc (“Celtic”), it has today posted an Offer Document formally making the Offer to the shareholders of Celtic (the “Offer Document”), reported the press-centre of Severstal.

The following is the text of the letter (the “Shareholder Letter”) that has been sent to holders of ordinary shares of EUR0,25 each in Celtic (“Celtic Shares”) today together with the Offer Document and the form of acceptance relating to the Offer (the “Form of Acceptance”).

Full text of letter see here:
http://www.severstal.com/eng/press_center/news/document2127.shtml