Conversion of shares

RNS Number:4993R
Evraz Group S.A.
20 September 2005





                ZapSib announces conversion of preferred shares

Moscow, September 20, 2005 - Evraz Group S.A. (LSE: EVR), one of the leading
vertically integrated steel production and mining businesses with operations
mainly in Russia, announces that at yesterday's Extraordinary General Meeting
("EGM") of OAO West Siberian Iron and Steel Plant ("ZapSib" or "Company"), its
shareholders adopted resolutions to changes in the Company's Statutes relating
to the rights of type A preferred shares with a par value of 10 rubles
("preferred shares").

The following changes relate to all 604 826 type A preferred shares currently in
issue:

   *Type A prefered shares will be converted into convertible preferred
    shares with a par value of 10 rubles ("convertible preferred shares"). Each
    type A preferred share will be converted into one convertible preferred
    share. Holders of type A preferred shares, who did not vote or voted against
    the adopted resolution to changes in ZapSib's Statutes relating to the
    rights of shareholders, can request ZapSib to buy out all or part of their
    holding of type A preferred shares at the prevailing market price during a
    period of 45 days from the date of adoption of the resolution to changes in
    the Company's Statutes.

   *Newly issued convertible preferred shares will be converted into ordinary
    shares of ZapSib on the seventh working day from the date of registration of
    the newly issued convertible preferred shares, with the Federal Financial
    Markets Service. Each convertible preferred share will be converted into one
    ordinary share.

                                     # # #

For further information:

Evraz Group
Corporate Affairs and Communications
Irina Kibina
Tel: [phone]
[e-mail]

Merlin
Michael Rummel
Lachlan Johnston
Maria Suleymanova
Tel: [phone]
[e-mail]


Notes to Editors


Evraz Group S.A.

Evraz Group is one of the largest vertically-integrated steel and mining
businesses with operations mainly in the Russia. In 2004, Evraz produced 13.7
million tonnes of crude steel.

Evraz Group is a listed company on the London Stock Exchange (LSE). The company
listed its global depositary receipts (GDRs) on the LSE on June 2, this year,
after raising $422 million from new investors.

Evraz's principal assets include three of the leading steel plants in Russia:
Nizhny Tagil (NTMK) in the Urals region, and West Siberian (Zapsib) and
Novokuznetsk (NKMK) in Siberia.

Evraz Group's mining businesses comprise the Kachkanarsky (KGOK), Evrazruda
(acquired in March 2005) and Vysokogorsky (VGOK) iron ore mining complexes and
NeryungriUgol Coal Company and an equity interest in the Raspadskaya coal mine.

Evraz also owns and operates the Nakhodka commercial sea port, in the Far East
of Russia, which facilitates access to Asian export markets.


OAO West Siberian Iron and Steel Plant (ZapSib)

West Siberian Iron and Steel Plant (ZapSib) is one of the largest integrated
steel plants in Russia. The plant specializes in long products for the
construction and machine-building industries.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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