April 2006 — Arcelor Stainless World and IUP Jindal Metals & Alloys Limited recently inaugurated the installations of IUP Jindal Metals & Alloys Ltd, a newly created joint-venture company based in New Delhi, India, with works at Bahadurgarh, Haryana, India.

Created in August 2004, the new joint venture is dedicated to precision rolling of stainless steel and alloy strips. The new plant has a monthly capacity of around 1,500 tonnes and represents a total investment of around 18 MUSD. The partnership is shared between Jindal Saw Limited (73%), and Arcelor's fully owned subsidiary IUP (Imphy Ugine Precision) (27%).

The rapid growth of the Indian market makes this an important milestone for Arcelor's stainless activities.

Both shareholders significantly contribute to this joint venture. Arcelor, through its wholly owned subsidiaries, IUP and Imphy Alloys, will provide the technical know-how for special extra thin and alloy products. As training and safety are top priorities for Arcelor, the joint venture's operators have already undergone a three-week training period on precision products at IUP and Imphy Alloys' plants in Europe. Jindal will contribute its market intelligence and expertise.

Together, Arcelor and Jindal will combine their joint strengths to develop business in India and surrounding markets. In order to build its position internationally, IUP Jindal Metals & Alloys Ltd. will call upon Arcelor Stainless International's global sales network.

IUP Jindal Metals & Alloys Ltd. is a leading joint venture producer of precision stainless and alloy strips.

IUP, a company within the Arcelor group’s Stainless Steels Sector, specializes in stainless steel and nickel alloy precision strip. IUP, which posted sales of 93 million euros in 2005 on output of 22,000 tonnes, employs 320 people. IUP's main markets are automotive, industry equipment and electronics.

Jindal Saw Limited is a market leader in the large diameter pipes for energy transmission as well as ductile pipe business in India. Jindal Saw's 2005 turnover amounted to 440 million euro. The expected turnover for 2006 is 700 million euro.

Arcelor holds leadership positions in its main markets: automotive, construction, household appliances and packaging as well as general industry. The company endeavors to further expand internationally in order to capture the growth potential of developing economies and offer technologically advanced steel solutions to its global customers. Arcelor employs 96,000 associates in over 60 countries. The company places its commitment to sustainable development at the heart of its strategy and ambitions to be a benchmark for economic performance, labor relations and social responsibility.