EHS - Evraz Highveld Steel and Vanadium Limited - First quarter ending 31 March

EHS - Evraz Highveld Steel and Vanadium Limited - First quarter ending 31 March 
2011 operational results                                                        
Evraz Highveld Steel and Vanadium Limited                                       
(Incorporated in the Republic of South Africa)                                  
(Registration number:  1960/001900/06)                                          
Share code:  EHS                                                                
ISIN:  ZAE000146171                                                             
("Evraz Highveld")                                                              
FIRST QUARTER ENDING 31 MARCH 2011 OPERATIONAL RESULTS                          
Following the practice of the holding company, Evraz Group S.A., to release     
quarterly operational information, Evraz Highveld hereby releases its results as
follows:                                                                        
PRODUCTION VOLUMES                                                              
                  Unit of   1Q 2011   4Q 2010    1Q       1Q 2010      1Q       
                  measure                        2011/                 2011/    
4Q                    1Q       

                                                 2010, %               2010,    
                                                 change                %        
                                                                       change   


Steel segment                                                                   
Hot metal          Tons      192,296   208,757    -8       180,456      7       
Continuously cast  Tons      195,793   205,667    -5       179,718      9       
blocks                                                                          
Blocks and slabs   Tons      -         -          0        -            0       
for sale                                                                        
Sections           Tons      62,027    46,782     33       55,333       12      
Plates             Tons      49,639    52,592     -6       61,493       -19     
Coil               Tons      28,923    18,675     55       36,757       -21     
Vanadium slag      Kg        3,963,685 4,735,987  -16      3,394,505    17      
                  V(2)O(5)                                                      
Internal       Kg        3,846,046 4,735,987  -19      2,012,376    91       
consumption        V(2)O(5)                                                     
Fines ore          Tons      152,473   151,894    0        165,863      -8      
Vanadium segment                                                                
Ferrovanadium      Kg V      1,421,102 1,229,230  16       1,567,910    -9      
Modified Vanadium  Kg V      428,436   379,806    13       -            100     
Oxide                                                                           
Nitrovan           Kg V      129,002   -          100      -            100     
AVERAGE SELLING PRICES                                                          
                 Unit of  1Q 2011   4Q 2010   1Q        1Q 2010   1Q 2011/      
                 measure                      2011/               1Q 2010,      
                                              4Q                  % change      
2010, %                           

                                              change                            
                                                                                
Steel segment                                                                   
Total Steel       $/ton    740       663       12        700       6            
Vanadium slag     $/Kg     6         -         100       6         -2           
                 V2O5                                                           
Fines ore         $/ton    41        37        11        34        21           
Vanadium segment                                                                
Ferrovanadium     $/Kg V   29        28        3         24        21           
Modified          $/Kg V   22        21        5         21        5            
Vanadium Oxide                                                                  
Nitrovan          $/Kg V   29        -         100       -         100          
                                                                                
Average exchange  R/$      7.00      6.91      1         7.52      -7           
rate                                                                            
Note:                                                                           
1) All prices quoted are delivered prices.                                      
08 April 2011                                                                   
Sponsor:                                                                        
J.P. Morgan Equities Limited                                                    
Date: 08/04/2011 13:00:01 Supplied by www.sharenet.co.za                     
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