For Immediate Release WHEELING, W.Va., June 25, 2008 – Esmark Incorporated (NASDAQ: ESMK) (the “Company”) announced today that it has entered into a definitive merger agreement to be acquired by OAO SeverStal (“SeverStal”) for $19.25 per share. This represents an overall transaction including debt valued at approximately $1.25 billion. Under the terms of the merger agreement, SeverStal will amend its tender offer to increase its offer price to $19.25 per share and Esmark will amend its Schedule 14D-9 to include the Esmark board of director’s recommendation that Esmark shareholders tender their shares to SeverStal pursuant to the amended tender offer. A revised...

FOR IMMEDIATE RELEASE WHEELING, WV, June 13, 2008 – Esmark Incorporated (NASDAQ: ESMK) (the “Company” or “Esmark”) announced today that its Board of Directors has adopted a Stockholders Rights Agreement that is designed to help Company stockholders receive the highest value for their shares in connection with the sale of the Company. In connection with adoption of the Stockholders Rights Agreement, the Company also announced that its Board has declared a dividend of one preferred share purchase right for each outstanding share of Esmark common stock, payable on June 13, 2008 to the stockholders of record at the close of business...

FOR IMMEDIATE RELEASE Recommends Stockholders Not Tender Shares at $17 per Share WHEELING, W.Va., June 12, 2008 – Esmark Incorporated (NASDAQ: ESMK) (the “Company” or “Esmark”) announced today that its Board of Directors, with the assistance of its financial and legal advisors, has thoroughly reviewed OAO Severstal’s (“Severstal’s”) unsolicited conditional tender offer and determined that the $17.00 per share cash offer is inadequate in a number of respects, uncertain with respect to its ability to close, and contrary to the best interests of Esmark’s stockholders. Accordingly, the Board recommends that stockholders not tender any shares to Severstal. The Board’s recommendation was based upon...

For Immediate Release Esmark Incorporated Comments on OAO Severstal Offer WHEELING, WV, May 30, 2008 – Esmark Incorporated (NASDAQ: ESMK) (the “Company”) announced today, in response to OAO Severstal’s unsolicited tender offer to acquire all outstanding shares of Esmark common stock for $17.00 per share, that the Esmark Board of Directors will examine and consider the Severstal offer, consistent with its fiduciary duties and the Company’s obligations under its memorandum of agreement with Essar Steel Holdings Limited. On or before June 13, 2008, Esmark will advise shareholders whether the Esmark Board recommends acceptance or rejection of the Severstal offer, expresses no opinion and...

For Immediate Release WHEELING, W.Va., May 23, 2008 – Esmark Incorporated (NASDAQ: ESMK) (the “Company”) confirmed today that the West Virginia Supreme Court of Appeals has denied the request of Massey Energy Company and its subsidiary Central West Virginia Energy Company (“CWVEC”) for appeal from the Brooke County, West Virginia judgment entered against them in favor of the Company’s subsidiary Wheeling-Pittsburgh Steel Corporation (“Wheeling-Pittsburgh”) and its coke plant joint venture and co-plaintiff Mountain State Carbon, LLC. The $219.85 million judgment was entered against Massey and CWVEC July 2, 2007 for the failure to deliver significant quantities of metallurgical coal and certain...

FOR IMMEDIATE RELEASE WHEELING, W.Va., May 23, 2008 – Esmark Incorporated (NASDAQ: ESMK) (the “Company”) today confirmed that its Wheeling Corrugating division will supply the steel decking requirements to construct the Pittsburgh Penguin’s new state of the art arena. This award involves approximately 1,000 tons of steel deck and accessory product, expected to be produced out of the Beech Bottom, W.Va., and Emporia, Va., facilities. Shipments are scheduled to begin in July. Chairman and CEO James P. Bouchard stated, “We are pleased to be part of the team constructing the Pittsburgh Penguins’ new home. This award, coupled with our recent award to...

May 21 2008, Financial Times, By Peter Marsh in London Severstal, Russia’s biggest steelmaker, has entered the battle to buy Esmark, a medium-sized US steel producer, underlining the continued enthusiasm for acquisitions in the sector. The Russian company yesterday said it was willing to buy Esmark for about $668m, or $17 a share. Esmark had already accepted a bid of the same value from Essar, the expansion-minded Indian steel company. Severstal hopes an agreement it has reached with the United Steelworkers union, representing workers at Esmark, will make its deal more acceptable to the company’s board and shareholders than the rival offer from Essar. The...

May 20, 2008, The Wall Street Journal, By ROBERT GUY MATTHEWS In what could escalate into a bidding war for troubled U.S. steel assets, Russia’s OAO Severstal is going after steelmaker Esmark Inc., offering $17 a share, or $1.1 billion, and the backing of the United Steelworkers, in an effort to beat out India’s Essar Steel. Essar’s earlier $17-a-share offer was rejected by the union. The latest all-cash bid pits two aggressive international steelmakers against each other as both try to gain strength in the lucrative U.S. market. Steel prices in the U.S. have been climbing and are poised to remain high,...

FOR IMMEDIATE RELEASE Receives commitment for $110 million term loan WHEELING, WV, April 30, 2008 – Esmark Incorporated (NASDAQ: ESMK) today announced that it has agreed to the material terms of a proposed tender offer and merger with Essar Steel Holdings Limited for a cash purchase price of $17.00 per share. The Company plans to enter into definitive documentation upon expiration or waiver of the approximate 52 day “right to bid” period set forth in the collective bargaining agreement with the United Steelworkers. Esmark has also entered into a binding commitment letter with Essar for a $110 million term loan which is...

April 30, 2008, American Metal Market, By Scott Robertson Esmark Inc., Chicago, has agreed to be acquired by Essar Steel Holdings Ltd., Mumbai, India, in a deal that is expected to be valued at about $1.1 billion. The deal indicates that Essar outbid rival OAO Severstal, Cherepovets, Russia, which was known to be interested in acquiring Wheeling-Pittsburgh and adding the assets to its growing North American steel holdings. Severstal several weeks ago outbid Essar in its bid for the Sparrows Point, Md., mill of ArcelorMittal SA, Luxembourg. The move, which will further Essar’s presence in the North American steel market, essentially means that...