May 30, 2006 — Brian MacNeill, Chair of the Board of Dofasco Inc., announced that Dofasco President and CEO, Don Pether, has indicated he will retire from his current responsibilities, effective July 21, 2006. Mr. Pether will become non-executive Chair of Dofasco's Board of Directors, also effective July 21, at which time Mr. MacNeill will resign from Dofasco's Board to help facilitate a seamless succession in the leadership of the company.

On behalf of Dofasco's Board, Mr. MacNeill also announced that Jacques Chabanier will be appointed President and CEO to succeed Mr. Pether, effective the same date.

Michel Wurth, Vice-CEO of Arcelor SA, commented, "I am grateful for the positive mindset and fruitful cooperation that has been built with Brian MacNeill and the Dofasco Board members to smooth the transition and launch a remarkably efficient integration process. I am confident that with Jacques Chabanier at its helm, with its seasoned management team and its highly skilled workforce, Dofasco will be able to build on its integration with Arcelor to further extend its reach and satisfy its customers".

"Since becoming CEO in 2003 Don Pether has provided superb leadership to Dofasco in a time of rapid and fundamental change in the steel industry,” Mr. MacNeill commented. “He has been instrumental in ensuring that the integration process with Arcelor has been a positive and exciting process for all involved. His many contributions to the company and to the steel industry over a distinguished career have been profound”.

Mr. Pether joined the company in 1970. He served in various leadership positions at Dofasco, including Plant Metallurgist, General Sales Manager, Vice President - Commercial, Executive Vice President Dofasco Inc. & General Manager Dofasco Hamilton, and President & Chief Operating Officer.

Mr. Chabanier has been working with Dofasco's leadership team since Dofasco was acquired by Arcelor in February of this year, helping to facilitate the integration of the two companies. "Jacques has had an opportunity to work collaboratively with Dofasco's leadership team, and to gain an understanding of the business, culture and values of Dofasco, which have been central to Dofasco's remarkable history as a leader in its industry, and which are closely aligned with those of Arcelor. He also brings a global perspective on the opportunities available to Dofasco as Arcelor's hub in North America to grow and create value for the company's stakeholders," said Mr. MacNeill.

Mr. Chabanier is a 34-year veteran of the steel industry. He joined Usinor, one of the mother companies of Arcelor, in 1972 as Operations Engineer at the Dunkirk steel plant in the Northern part of France, where he rose to become General Manager from 1988 to 1992. Between 1992 and 2002, he held various senior leadership positions within Usinor, including CEO of the company's Pipes and Tubes division, Head of Strategy of the Usinor Group, CEO of the Long Stainless Products Division, General Manager of Flat Carbon Steel Marketing and Sales, and CEO of the North American Flat Stainless Division. He was also a member of the Executive Committee of Usinor.

At the creation of Arcelor, Mr. Chabanier was promoted to Senior Executive Vice President, in charge of Purchasing, IS/IT, R&D and the Strategic Alliance between Arcelor and Nippon Steel of Japan, a position he held until recently.

Dofasco is a leading North American steel solutions provider, as the North American hub of Arcelor SA of Luxembourg. 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 subsidiary, Quebec Cartier Mining, produces iron ore concentrates and Pellets. 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.