Arcelor and Mittal Steel Confirm Next Stage of Merger Agreement

The Board of Directors of Mittal Steel Company N.V. (“Mittal Steel”) announces today further details of the process for its legal merger with Arcelor SA that was agreed in the context of its exchange offer completed on August 1, 2006. The process will involve two steps.

In the first step, subject to the approval of the Mittal Steel shareholders, Mittal Steel will be merged into a Luxembourg-based ad hoc subsidiary named ArcelorMittal. Each Mittal Steel share will be exchanged for a share of ArcelorMittal. The same corporate governance structure applicable to Mittal Steel and Arcelor SA will be applied to ArcelorMittal. Mittal Steel and ArcelorMittal signed a merger agreement on 2 May 2007 and the disclosure documents relating to such merger will be submitted shortly to the relevant securities regulatory authorities.

In the second step, ArcelorMittal will be merged into Arcelor, which will be renamed ArcelorMittal. The exchange ratio of ArcelorMittal shares for Arcelor shares has not yet been determined. It will be announced once approved by the boards of directors of the two companies. The companies are actively working to implement the two mergers as promptly as possible in the course of 2007.