Mechel sets payment date for 2005 dividend

Mechel, a leading Russian integrated mining and steel group announced the date for its 2005 dividend payout. The payment will be made today (July 25) in the amount of Ruble 12.73 per share (approx. $1.42 per one ADR) based on the company's operational results for 2005, amounting to a total of Rub 5.3 billion (approx. $196.8 million). The dividend payment is in line with Mechel's previously announced decision to increase its dividend from 15 percent to 50 percent of the company's net profits under US GAAP.