OAO Severstal announced that it has extended the expiration date for its tender offer to purchase all outstanding shares of Esmark Incorporated at an offer price of USD 19.25 per share to 10:00 AM, Eastern Daylight Time on Monday, August 4th 2008.

According to the release, the tender offer has been extended to allow for the expiration of the review period by the Committee on Foreign Investment in the United States under the Exon-Florio Amendment to the Defense Production Act of 1950 as amended. The CFIUS review period is expected to expire at 11:59 PM Eastern Daylight Time on Friday, August 1st 2008.

The release added that as of the close of business on July 18th 2008 a total of 34,366,906 shares of common stock of Esmark which represents approximately 86.98% of the outstanding Esmark shares, have been tendered and not withdrawn pursuant to the tender offer.

Merrill Lynch is the Dealer Manager and Citibank, NA is the Depositary for the tender offer. Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal counsel to Severstal.