JANUARY 2008

Evraz to acquire Claymont Steel

Evraz Group S.A. and Titan Acquisition Sub, Inc., a wholly-owned subsidiary of Evraz, have entered into a definitive agreement with Claymont Steel Holdings, Inc., under which Evraz will acquire Claymont Steel for an aggregate price of approximately US$564.8 million (including debt and net of cash).

Under the terms of the agreement, Titan will make a cash tender offer for all shares of Claymont Steel common stock and then merge with Claymont Steel. The board of directors of Claymont Steel has unanimously recommended that the shareholders of Claymont Steel accept the offer.