Feb. 21, 2006 — Mittal Steel USA has finalized a severance package for employees whose jobs are being eliminated by the closure of certain operations at the plant.

The severance package applies to roughly 1,000 employees associated with the ironmaking and steelmaking operations, whose indefinite idling had been previously announced. Key features of the package include significant options for employees in terms of how benefits are provided, such as lump sums or extended health care, as well as various benefits that increase the costs to the company.

"We have put together an attractive severance package in order to ensure the smoothest possible transition for both our employees and the new plant configuration," said Louis L. Schorsch, President and CEO of Mittal Steel USA.

Mittal is continuing to operate the hot strip mill at Weirton, which had been under scrutiny as well. "Working with the Independent Steelworkers Union, we are developing plans that will enable that operation to run economically," Schorsch said.

"By using semifinished steel from our cost-effective plants, and by eliminating unrelated costs, we expect to make Weirton a highly competitive maker of tinplate," Schorsch said.

Mittal Steel USA is North America's largest steelmaker and serves a broad U.S. manufacturing base. The company has operations in 12 states of the United States.

Mittal Steel Co. NV is the world's largest and most global steel company, with operations in 16 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 tons.