Feb. 2, 2006 — Mittal Canada Inc., a Canadian subsidiary of Mittal Steel Co. NV, has completed its acquisition of Stelco Inc. subsidiaries Norambar Inc., Stelfil Ltee, and Stelwire Ltd.

Mittal Canada acquired the three plants at a cost of C$30 million plus the assumption of C$28 million in debt.

Located in Quebec, the Norambar plant will complement Mittal Canada's facilities in Contrecoeur and Longueuil, boosting Mittal Canada's capacity by 625,000 tons of billets and 435,000 tons of bars. Stelfil, also located in Quebec, and Stelwire, Ontario, will add 250,000 tons of steel wire to Mittal Canada's annual production capacity, providing a wider product mix to better meet customer needs.

"I am delighted with the positive outcome of this transaction after over a year of negotiations," said Richard Leblanc, President and CEO of Mittal Canada Inc. "It is consistent with the company's management philosophy of seizing favorable business opportunities. Also, synergies resulting from the integration of these three plants will further optimize our long-term viability and competitiveness, which in turn will clearly benefit our employees and communities."

Based in Quebec, Mittal Canada has an annual production capacity of 2.5 million tons of steel. The Company manufactures a wide range of high quality flat and long steel products, sold mainly in Canada and the USA to the automotive, engineering and other industries. It is a subsidiary of Mittal Steel.

Mittal Steel Co. is the world's largest and most global steel company, with operations in fourteen 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 2004, Mittal Steel had revenues of US$22.2 billion and steel shipments of 42.1 million tonnes.