MMK announces H1 dividend recommendation

During the extraordinary meeting, the Board of Directors of Magnitogorsk Iron and Steel Works (MMK) has recommended the payment of dividend in the amount of Ruble 0.815 (approx. $0.03) per one common share for the first half-year of 2006. For the first quarter of 2006, MMK paid Ruble 0.593 (approx. $0.022) as dividend per one common share.