Arcelor has agreed with Bremer Investitions-Gesellschaft (BIG), the minority shareholder of its subsidiary Stahlwerke Bremen (SWB), on the acquisition by Arcelor of the 30.3% stake that BIG holds in SWB. After completion, Arcelor will hold, through wholly owned subsidiaries, 100% of SWB.

With the conclusion of this agreement, the put and call option between the two companies regarding a 6.3% stake in SWB, expiring on December 31st, 2004, becomes void.

Stahlwerke Bremen, located in Bremen (Northern Germany) is an integrated site producing flat carbon steel. The site, which employs approximately 4000 associates, comprises two blast furnaces, steel shop, hot strip mill, cold rolling mill, two galvanizing lines and a tailor welded blank production facility. In 2003, SWB produced approximately 3.5 million tons of steel, mainly for the automotive sector, manufacturers of electrical appliances as well as for the construction sector.

Arcelor is a leading force in the transformation of the global steel industry. With a turnover of 25.9 billion euros and shipments of40.2 million tonnes of steel in 2003, the company is a major player in all its main markets: automotive, construction, household appliances and packaging as well as general industry. Arcelor employed 98,000 employees at the end of 2003 in over 60 countries. The company places its commitment to sustainable development at the heart of its strategy and ambitions to become a benchmark for economic performance, labor relations and social responsibility in the world of steel.