Ispat Inland ULC has increased the consent payment it will make to holders of its Senior Secured Floating Rate Notes due 2010 and 9.75% Senior Secured Notes due 2014 that validly deliver (and not revoke) consents to $2.50 for each $1,000 principal amount of Notes held by such holders.

Expiration of the consent solicitation has also been extended to 5:00 p.m., New York time, on March 8, 2005, to allow holders to consider the increased consent fee.

Approval of the amendments requires the consent from record date holders of a majority of the principal amount of the described notes voting together as a single class. The record date for the consent solicitation remains February 17, 2005.

Holders who have previously submitted their consents are not required to revoke or resubmit their consents in order to receive the full amount of the Increased Consent Fee. Subject to certain conditions set forth in the company’s original consent solicitation statement (dated February 18, 2005) and related materials that have been distributed to noteholders, any consents that are validly submitted and received, and not revoked, on or prior to the expiration date will be eligible for the full amount of the increased consent fee.

Except as set forth above, terms and conditions of the consent solicitation remain unchanged.

UBS Securities LLC is acting as the Solicitation Agent. Holders with questions about the consent solicitation can contact the UBS Liability Management Group. Copies of the consent solicitation statement and related material can be obtained from the Information Agent and Tabulation Agent for the consent solicitation, Global Bondholder Services Corp.

Ispat Inland Inc. is a subsidiary of Mittal Steel Co. NV, the world's most global steel company. Formed from the combination of Ispat International NV and LNM Holdings NV, Mittal Steel has steelmaking operations in 14 countries, on four continents. For the twelve months that ended Dec. 31, 2004, Mittal Steel had revenues of approximately $22 billion and steel shipments of 42 million tons. Mittal Steel encompasses all aspects of modern steelmaking to produce a comprehensive portfolio of both flat and long steel products, serving all the major steel-consuming sectors, including the automotive, appliance, machinery and construction.