Mittal Steel Co. has confirmed that it is involved in discussions with Baotou Iron and Steel Group Co., Ltd. about a possible participation in this company.

Mittal commented that it is too early to comment on the likely outcome of the discussions.

Mittal Steel 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.