June 20, 2006 — Arcelor’s board of directors has resolved to withdraw the convening of the extraordinary general meeting of June 21st, 2006.

Arcelor says the decision was made in light of the discussions currently ongoing between the management of Arcelor and Mittal Steel, and in order not to impair any solution for the future of Arcelor. The company notes that since the June 21 extraordinary general meeting will not take place, any shares blocked in order to allow participation at that meeting (in person or by proxy) can be unblocked immediately.

The board of directors confirms its intention to implement the Arcelor value plan and to distribute EUR 6.5 billion to its shareholders, as per its decision of April 3, 2006. The board of directors reserves the right to convene an extraordinary general shareholders' meeting in order to allow its shareholders to decide on such distribution in case the unsolicited offer by Mittal Steel was not successful. That meeting will also include a vote on the proposal of the board to amend Arcelor's Articles of Association in order to allow shareholders holding at least 1% of the shares outstanding to request that draft resolutions be placed on the agenda of the meeting.

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.