May 5, 2006 — Mittal Steel Co. NV announced that the European Commission has cleared Mittal's bid to acquire Arcelor subject to certain commitments. The granting of EU antitrust clearance is a further positive and important step towards the successful completion of Mittal's bid.

"We are delighted with the Commission's decision. For the past several months, we have worked constructively with the Commission — and other regulatory authorities — to demonstrate the pro-competitive impact of the Mittal/Arcelor transaction. Clearly, this decision also recognizes the complementary nature of the combination. The Mittal/Arcelor combination will represent a step-change in the consolidation and long-term health of the global steel industry to the benefit of all stakeholders."

In order to secure clearance during the Commission's Phase I investigation, Mittal Steel agreed to address concerns in the relatively small area of heavy sections through the divestiture of three steel plants, two belonging to Arcelor and one belonging to Mittal. Mittal Steel believes that the divestitures will have no adverse effect on Mittal's or Arcelor's operations, in light of the combination.

Mittal Steel has operations in sixteen countries, on four continents. Mittal Steel encompasses all aspects of modern steelmaking, to produce a comprehensive portfolio of both flat and long steel products to meet a wide range of customer needs. It serves all the major steel consuming sectors, including automotive, appliance, machinery and construction. For 2005, Mittal Steel had revenues of US$28.1 billion and steel shipments of 49.2 million tons.