Years ended December 31, 2010, 2009 and 2008
(Amounts expressed in thousands of US dollars)

	Year ended December 31,
	2010	2009	2008
(Loss)/profit for the year	(515,014)	(1,119,095)	2,061,926
Other comprehensive loss
Foreign exchange difference	(242,832)	(114,714)	(1,097,365)
Changes in fair value of cash flow hedges	-	(2,860)	(13,428)
Deferred tax on changes in fair value of cash flow hedges	-	809	3,691
Changes in fair value of available-for-sale investments	50,876	40,466	4,864
Deferred tax on changes in fair value of available-for-sale investments	(7,626)	(4,398)	(2,511)
Fair value adjustment upon acquisition of subsidiary to previously held interest	-	-	33,020
Other comprehensive loss for the year, net of tax	(199,582)	(80,697)	(1,071,729)
Total comprehensive (loss)/income for the year	(714,596)	(1,199,792)	990,197
Attributable to:
shareholders of OAO Severstal	(788,924)	(1,158,706)	996,061
non-controlling interests	74,328	(41,086)	(5,864)

The accompanying notes form an integral part of these consolidated financial statements.