OREANDA-NEWS. November 23, 2007. Severstal's Board of Directors, held on 22-23 November 2007, recommended a dividend of 2.50 rubles per share and per global depositary receipt ("GDR") for the nine months 2007 with the record date of 14 November 2007. Each GDR represents one share in the Company.

Approval of the dividend payment is expected at the company's EGM on 20December 2007.