OREANDA-NEWS. May 19, 2008. In accordance with the UK Listing Authority’s Disclosure and Transparency Rules, Evraz Group S.A. (LSE: EVR) (“Evraz”) today issued its first Interim Management Statement (IMS) relating to the period from 1 January 2008 to 31 March 2008 (“1Q 2008”).

The information in this press release has been prepared in accordance with management accounts policies. Inter-company transactions have been eliminated in consolidation. This announcement does not contain sufficient information to constitute an interim financial report as defined in International Auditing Standards 34, “Interim Financial Reporting”. The following results may differ from financial statements prepared in accordance with International Financial Reporting Standards (“IFRS”). The numbers in this press release have not been audited or reviewed.

Evraz Group S.A. publishes consolidated financial statements prepared in accordance with IFRS for the six months ended June 30 and for the year ended December 31, in each year.

Consolidated financial results for the six months ending 30 June 2008 will be reported on August 29, 2008.

Highlights:

•   Revenue for the period was approximately US\\$4,320 million
•   Total steel products sales amounted to 4.6 million tonnes
•   Iron ore sales volumes including inter-company shipments totalled 4.3 million tonnes
•   Coal sales including inter-company shipments were 2 million tonnes of coking coal and 1.5 million tonnes of steam coal
•   EBITDA was US\\$1,393 million with EBITDA margin of 32%
•   Total debt as of 31 March 2008 amounted to approximately US\\$7,259 million
•   Cash and cash equivalents as of the end of the period was approximately US\\$450 million

Material events and transactions up to date:

•   In January, Evraz successfully completed tender offer for 100% of Claymont Steel followed by its merger with Evraz Oregon Steel Mills.
•   In January, ZapsibTETs became a wholly-owned subsidiary of Evraz.
•   In mid-April Evraz closed the acquisition of 51.4% of shares of selected Ukrainian assets signifying the completion of the first, cash, part of the transaction announced at the end of 2007.
•   In February, Evraz entered a share purchase agreement to acquire up to 51% of Chinese steel producer Delong Holdings and completed the initial stage of the agreement having purchased approximately 10% of the issued share capital of Delong.
•   In March, Evraz announced the acquisition of IPSCO Canada for a net cost of \\$2.3 billion.
•   In April, Evraz completed its 144A/Reg S bond transaction totaling US\\$1,600 million.

Changes to the Company’s share capital over the period:

•   There were no changes in 1Q 2008.
•   As of 31 March 2008, the Company’s share capital consisted of 118,309,653 ordinary shares and the shareholders’ structure was as follows:
Lanebrook – 72.9%[1], and
BNY (Nominees) Ltd – 27.1% of the shares.

 Disclaimer:

This report contains certain forward-looking statements with respect to the financial condition, results of operations, and businesses of Evraz Group. These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that will occur in the future. There are a number of factors which could cause actual results or developments to differ materially from those expressed or implied by these forward looking statements and forecasts. The statements have been made with reference to forecast price changes, economic conditions, the current regulatory environment and the current interpretations of IFRS applicable to past, current and future periods. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements. Nothing in this announcement should be construed as a profit forecast.