SOURCE: Arcelor

June 21, 2006 12:56 ET

Arcelor Board to take a decision on Sunday, June 25 and set at June 28 the deadline for blocking shares for upcoming shareholders' meeting

Luxembourg -- (MARKET WIRE) -- June 21, 2006 -- Arcelor Board to take a decision on Sunday, June 25 and set at June 28 the deadline for blocking shares for upcoming shareholders' meeting

Luxembourg, June 21, 2006 - The Board of Arcelor met today with Mr. Kinsch as Chairman. All directors were present or represented at the meeting.

The Board met to consider the improvements to the Severstal transaction proposed by Mr Mordashov.

The Board also received a status report concerning ongoing discussions between Mittal Steel and Arcelor.

The Board decided to postpone to June 28 the deadline for shareholders to block shares and file proxies in connection with their participation in person or by authorized representative at the shareholders' meeting of June 30, 2006.

Finally, the Board unanimously decided to meet again on Sunday, June 25 at 10 AM CET, in order to take a decision regarding the latest proposals from Mittal Steel and Mr Mordashov.

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. In 2006, Arcelor employs 110,000 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.

For more information visit www.arcelor.com

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