OREANDA-NEWS. On 07 May 2009 was announced, that Nuclear Equipment business grew 24% y-o-y to reach USD  318.3 million. Revenues in the Specialty Steel segment (production of semi-finished metallurgical products for machine building and other sectors) increased 22% to reach USD  662.5 million. Sales of Mining Equipment and Services grew 21% and reached USD  193.5 million. Cash flow used in investment activities totaled USD  170 million.

Commenting on OMZ’s 2008 financial results, OMZ’s CEO, Mr. Victor Danilenko, said: “We achieved very good results in 2008 in spite of the slow down in the global economy that began in the 3rd quarter. We believe this is due to the initiatives we launched several years ago in cost cutting, optimization of the product line and improvement in the corporate governance structure.”

The 2008 consolidated financial results of the Company were audited to International Financial Reporting Standards (IFRS) by KPMG. The complete set of accounts can be viewed on the Company’s website www.omz.ru and will be available at the Document Viewing Facility of the UKLA at The Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS, UK.

For further information please contact:

Marina Nacheva, Head of Investor Relations, on (+7495) 662 1040, ext. 1494 or by e-mail at m.nacheva@omzglobal.com

Alexander Karlashov, Head of Public Relations, on (+7495) 662 1040, ext. 1612 or by e-mail at alexandr.karlashov@omzglobal.com