Ispat Inland ULC is soliciting consents from holders of its outstanding Senior Secured Floating Rate Notes due 2010 and 9.75% Senior Secured Notes due 2014 for amendments to the indenture governing the Notes.

Approval of the amendments requires the consent of a majority of the principal amount of the Notes voting together as a single class. If the requisite consents are received from holders of the Notes as of February 17, 2005, the record date for the consent solicitation, the company will make a consent payment to consenting holders of $1.25 per $1,000 principal amount of Notes for which a valid consent has been received and not revoked.

The consent solicitation will expire at 5:00 p.m., New York time, on March 3, 2005 unless extended by the company.

Detailed terms and conditions of the consent solicitation are contained in a consent solicitation statement that will be distributed to record date holders of the Notes. Holders can obtain additional copies of the consent solicitation statement and related material from Global Bondholder Services Corp., the Information Agent and Tabulation Agent for the consent solicitation. Questions about the consent solicitation can be directed to UBS Securities LLC, which is acting as the Solicitation Agent.

The company cautions that this announcement does not constitute a solicitation of consents nor shall it be deemed a solicitation of consents with respect to any securities. The consent solicitation will be made solely by the consent solicitation statement dated February 18, 2005.

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 fourteen countries, on four continents. For the twelve months ended December 31, 2004, Mittal Steel had revenues of approximately US$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 to meet a wide range of customer needs. It serves all the major steel consuming sectors, including the automotive, appliance, machinery and construction sectors.