Jan. 3, 2006 — Arcelor SA has mailed to Dofasco shareholders its takeover bid circular for its all-cash offer to acquire the outstanding common shares of Dofasco Inc. at C$63.00 per share.

Arcelor’s offer price represents a premium of approximately 2.4% over the price of ThyssenKrupp's December 5, 2005, offer of C$61.50 per share.

The Arcelor offer is open for acceptance for 35 days and contains certain conditions that are customary to transactions of this nature, including the valid tender, and non-withdrawal, of at least 66-2/3% of Dofasco's common shares, waiver or other appropriate measures dealing with Dofasco's shareholder rights plan, receipt of required regulatory consents and approvals, the absence of litigation, no material adverse change at Dofasco and certain other conditions.

Arcelor is a leading player of the global steel industry. The company holds leading positions in its main markets: automotive, construction, household appliances and packaging as well as general industry. The company — number one steel producer in Europe and Latin America — aspires to further expand internationally in order to capture the growth potential of developing economies and offer technologically advanced steel solutions to its global customers. Arcelor employs 94,000 associates in over 60 countries. The company places its commitment to sustainable development at the heart of its strategy and aspires to be a benchmark for economic performance, labor relations and corporate social responsibility.