JULY 2008

Evraz completes acquisition of IPSCO Canadian Assets

Evraz Group S.A. has completed the acquisition of IPSCO Inc.’s Canadian assets. To ensure consistency in the North American marketplace, Evraz also announced the company’s various operations in the United States and Canada will operate under the name, Evraz, Inc. NA.

The new name impacts the headquarters in Portland, Oregon and all eight production facilities, including the steel production facilities in Pueblo Colorado, Regina Saskatchewan and Claymont Delaware; the seamless pipe, rod and rail mills in Colorado, the plate mills in Claymont, Regina and Portland, Oregon; the coil processing facility in Surrey, British Columbia; the structural tubing facility in Portland; the pipe mills in Portland and Regina; as well as the Alberta pipe mills in Red Deer, Calgary and Camrose.

Evraz, Inc. NA announced the senior management team:

Jim Clarke, vice president of Tubular Operations, is based in Regina and will oversee tubular operations in North America, including the Alberta pipe mills in Calgary, Red Deer and Camrose; as well as the Portland pipe mill.

Greg Maindonald, vice president and general manager, Evraz Regina Steel, will have overall responsibility for the Regina steelmaking operations.

Tubular sales will be based in Calgary and Portland. Sales of large diameter pipe will be headed up by Larry Lawrence, vice president of Tubular Sales, with Dave Coffin and Rodger Kemp.

Jim Mitchell, director of Oil Country Tubular Goods, will lead the sales group for medium and small diameter ERW pipe, with John Palazeti.

Scott Montross, vice president general manager, Evraz Oregon Steel, Portland, Oregon, joined the company in 2003 from National Steel. He is responsible for North American sales of plate, coil and HSS, as well as the plate and coil, heat treating and HSS operations in Portland.

Rob Simon, vice president, general manager, Evraz Rocky Mountain Steel, Colorado, heads up sales and operations.

Victor Clark, vice president, general manager, Evraz Claymont Steel, Claymont, Delaware, is responsible for the Claymont steelmaking and plate mill operations.

At the Portland headquarters; Robin Gantt, chief financial officer and treasurer, oversees finance, accounting, tax risk, information technology, and related legal matters company wide.

Jennifer Murray, vice president of administration and secretary, heads up corporate administration for North America.