Mittal Steel Co. NV confirmed its guidance for 2004, with pro-forma numbers (including ISG) expected to be close to the guidance given on October 25, 2004, namely:

• Pro-forma shipments of 57 million tonnes.
• Pro-forma operating earnings of US$6.8 - US$7.0 billion, representing an operating margin of over 20%.
• Pro-forma earnings per share of US$7.20 - US$7.40

These pro-forma numbers assume the maximum issuance of shares for the ISG transaction and do not include any purchase accounting adjustments. Mittal Steel's financial results for 2004 will not include ISG.

For 2005, Mittal Steel is expecting pro-forma shipments of approximately 62 million tonnes and pro-forma operating income per ton to be similar to the year 2004.

Mittal Steel also stated that it expects its acquisition of International Steel Group (ISG) to be completed by the end of the first quarter 2005.

Mittal Steel Co. is the world's most global steel company. Formed from the combination of Ispat International NV and LNM Holdings NV, the company has 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 the first nine months of 2004, Mittal Steel had revenues of approximately US$16 billion and steel shipments of 32 million tonnes.