SOURCE: Arcelor

March 08, 2006 01:30 ET

Arcelor announces that 98.5% of Dofasco's Common Shares have been deposited to its offer

Luxembourg -- (MARKET WIRE) -- March 8, 2006 -- PRESS RELEASE

Arcelor announces that 98.5% of Dofasco's Common Shares

have been deposited to its offer

Luxembourg, March 8, 2006 - Arcelor S.A. announces that an additional 7,967,623 common shares of Dofasco Inc. (TSX: DFS), including shares deposited by guaranteed delivery, were deposited to Arcelor's offer to acquire all of the outstanding common shares of Dofasco for CAD$71.00 in cash per Dofasco common share between February 20, 2006, the previous expiry date of the offer, and 8:00 p.m. on March 7, 2006, the latest expiry date of the offer. To date, a total of 77,530,766 common shares of Dofasco, representing 98.5% of all outstanding Dofasco common shares, have been deposited to Arcelor's offer. Payment for all deposited Dofasco common shares, for which payment has not already been made, is expected to be made on or prior to March 10, 2006.

Its offer for Dofasco having expired, Arcelor intends, as soon as permitted, to acquire the remaining Dofasco common shares by means of a statutory compulsory acquisition procedure under the applicable provisions of the Canada Business Corporations Act at the same price as the offer price.

Arcelor also intends, upon acquiring a sufficient number of Dofasco common shares, to de-list the common shares from the Toronto Stock Exchange.

About Dofasco

Established in 1912, Dofasco is a leading North American steel solutions provider. Product lines include hot rolled, cold rolled, galvanized, Extragal™, Galvalume™, and tinplate flat rolled steels, as well as tubular products, laser-welded blanks and Zyplex™, a proprietary laminate. Dofasco's wide range of steel products is sold to customers in the automotive, construction, energy, manufacturing, pipe and tube, appliance, packaging and steel distribution industries. The company has additional operations in Canada, the United States and Mexico. Dofasco also owns 98.7% of Québec Cartier Mining (QCM). QCM owns and operates the Mont-Wright open pit mine and a pellet plant at Port-Cartier.

About Arcelor

Arcelor is the number one steel company in the world with a turnover of 32.6 billion euros in 2005. The company holds leadership positions in its main markets: automotive, construction, household appliances and packaging as well as general industry. The company - number one steel producer in Europe and Latin America - ambitions to further expand internationally in order to capture the growth potential of developing economies and offer technologically advanced steel solutions to its global customers. Arcelor employs 96,000 associates in over 60 countries. The company places its commitment to sustainable development at the heart of its strategy and ambitions to be a benchmark for economic performance, labour relations and social responsibility.

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