Black Sun is pleased to report that the 2007 Novolipetsk Steel (NLMK) annual report was named as the Best Annual Report at the Fifth Annual Conference hosted by Expert RA, an independent national rating agency in Russia.

NLMK won a further award at the XI Annual Federal Contest of Annual Reports and Websites hosted by the Securities Market Journal, the RF Ministry for Economic Development and MICEX. The Company won the award for "Best level of information disclosure in the issuer s annual report."

David Christopherson, CEO of Black Sun commented "We are delighted that this work has been recognized. NLMK has been striving to comply with global information disclosure best practices, investment attractiveness and to comply with international reporting standards. We are pleased that their efforts to communicate with their shareholders and investors has been recognized nationally."