Jan. 30, 2006 — Dofasco Inc. has advised that regardless of Mittal Steel’s unsolicited bid for Arcelor SA, Arcelor is committed to pursuing its acquisition of Dofasco at a price of Cdn. $71 cash per share pursuant to its obligations under the Support Agreement between Arcelor and Dofasco. The transaction remains subject to regulatory approvals, which Arcelor has indicated it is proceeding to obtain in the usual manner.

Dofasco says that its Board of Directors has no reason to believe that the acquisition will not close in the ordinary course.

The Support Agreement between Dofasco and Arcelor has been posted on the Dofasco website and has also been filed on SEDAR.

Dofasco is a leading North American steel solutions provider. Product lines include hot rolled, cold rolled, galvanized, Extragal^(TM), Galvalume^(TM) and tinplate flat rolled steels, as well as tubular products, laser-welded blanks and Zyplex^(TM), a proprietary laminate. Dofasco's wide range of steel products is sold to customers in the automotive, construction, energy, manufacturing, pipe and tube, appliance, packaging and steel distribution industries.