June 12, 2006 — Around 50% of Arcelor's employees in 12 countries will now be shareholders of the company. The change follows a corporate program to allow employees to become company shareholders.

Around 2.8 million shares were subscribed during the subscription period, which ran from May 8 to May 31. The shares represent 0.42% of Arcelor's capital, and will take the stake held by employees to almost 1.4%.

Commenting on the outcome of this program, Arcelor's CEO Guy Dolle said, "This is a clear vote of confidence of Arcelor's employees in our company, in our business model, in our values and in our principles of responsibility. The very high level of subscription, at a time when the company is the target of a hostile takeover bid, signals the strong sense of solidarity of our associates with our efforts to guarantee sustained value creation by Arcelor".

Shares acquired under this program will remain embargoed according to local laws and regulations.

Arcelor holds leadership positions in its main markets: automotive, construction, household appliances and packaging as well as general industry. The company endeavors to further expand internationally in order to capture the growth potential of developing economies and offer technologically advanced steel solutions to its global customers. In 2006, Arcelor employs 110,000 associates in over 60 countries. The company places its commitment to sustainable development at the heart of its strategy and ambitions to be a benchmark for economic performance, labor relations and social responsibility.