Esmark Inc. Acquisition Completed

Esmark has been acquired by OAO Severstal.

August 5, 2008

Esmark Inc., Wheeling, W.Va., has announced the completion of its acquisition by OAO Severstal.

The acquisition was completed pursuant to the merger of Severstal Wheeling Acquisition Corp., a wholly-owned subsidiary of Severstal, with and into Esmark. Esmark was the surviving corporation of the merger and is now an indirect, wholly-owned subsidiary of Severstal and has been renamed “Severstal Wheeling Holding Company.”

With the completion of the tender offer and consummation of the merger, Severstal acquired all of Esmark's businesses, including:

• Wheeling-Pittsburgh Steel Corporation (to be renamed “Severstal
            Wheeling, Inc.”)
• Esmark Steel Service Group, Inc. (to be renamed “Northern Steel
            Group, Inc.”)
• Remaining 50 percent ownership of the joint venture Mountain State Carbon,
            LLC, a blast furnace coking coal facility in West Virginia.

Esmark Inc. is a producer of carbon flat-rolled products for the construction, container, appliance, converter/processor, steel service center, automotive and other markets. The company’s products include various sheet products such as hot rolled, cold rolled, hot dipped galvanized, electro-galvanized, black plate and electrolytic tinplate.

More information is available at www.severstalna.com.