May 19, 2006 — Mittal Steel Co. announced that its offer for Arcelor has opened in Luxembourg, France and Belgium. It is expected to open in Spain and the United States shortly.

The offer will be open for 30 business days (except in Spain and the United States), closing on June 29, 2006 in all jurisdictions.

Commenting, Lakshmi N. Mittal, Chairman and CEO of Mittal Steel Co., said, "Since our offer was first announced, the market has demonstrated that it likes the strategy of the deal through the considerable value created. We have always said that it is the shareholders who should decide on this transaction and we are pleased that now that the offer is open they will have ability to do so.

"We continue to believe that our offer is a very attractive one, structured to enable Arcelor shareholders to participate in the exciting growth potential of the combined company, whilst also receiving a generous cash element.

"The combined company will create the only steel company with a broad and compelling geographic footprint, well diversified product portfolio, unique cost position and ample captive raw material sources. We are confident shareholders will find great appeal in this model, whose strong growth profile will underpin superior shareholder returns."

Mittal Steel Co. has operations in sixteen 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 2005, Mittal Steel had revenues of US$28.1 billion and steel shipments of 49.2 million tons.