May 9, 2006 — Arcelor reports that over the past two weeks, its chairman of the Board, Mr. Joseph Kinsch, has received repeated requests from Mr. Mittal for a meeting.

Arcelor confirms that Mr. Kinsch had told Mr. Mittal on several occasions that, despite the reservations Arcelor and its board have about the proposed combination of the two groups and the different views on valuation and governance, he was prepared to meet Mr. Mittal on the condition that Mr. Mittal would provide sufficient information to assess the intentions of Mittal Steel, its industrial, social and business plans, and the value of its shares as well as elements justifying the strategic logic of a combination of the two groups and his views with respect to corporate governance.

Arcelor notes that although Mr. Mittal sent several documents to Mr. Kinsch, the documents did not contain all the essential information requested by Mr. Kinsch. In particular, Mittal Steel's business plan was missing, as well as other information that would permit Arcelor to fully assess Mittal Steel's intrinsic value.

Arcelor confirms that for a meeting to take place and be productive between representatives of the two groups, it needs to receive sufficiently precise information beforehand on the requested items. Arcelor's Chairman reiterates that the Board of Directors will examine all options and proposals based on a strong and coherent industrial model and which maximizes shareholder value.

Arcelor is a world leader for the automotive sector and holds leadership positions in its main markets: 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.