Arcelor Mittal Announces Management Board and Board of Directors

Roland Junck has been appointed CEO. Roland Junck is currentlySenior Executive Vice President of Arcelor's Group Management Board, aposition he has held since Arcelor's creation in 2002 following themerger of Aceralia, Arbed and Usinor. Since 2006 he has heldresponsibility for Long Carbon Steel Europe, Long Carbon Steel SouthAmerica, Wire Drawing and Co-ordination China. Prior to the creationof Arcelor, Mr Junck was a member of the Arbed Group management board,a company he joined in 1980.

Aditya Mittal has been appointed CFO, with additionalresponsibility for the Flat American business.

The other four members of the Management Board will be:

-- Michel Wurth, Senior Executive Vice President Flat Products Europe

-- Malay Mukherjee, Senior Executive Vice President Stainless, Mining, Asia & Africa

-- Gonzalo Urquijo, Senior Executive Vice President Long Products and Distribution

-- Davinder Chugh, Senior Executive Vice President Shared Services

The appointments were approved today by the Board of Directors ofboth Arcelor and Mittal Steel. They take place with immediate effectallowing for the immediate start of the integration process. The newManagement Board will meet for the first time on Tuesday 8th August.

The 18 members of the new Board of Directors for Arcelor Mittalare as follows, subject to shareholder approval:

-- Arcelor representatives:

Joseph Kinsch, Chairman of the Board

Jose Ramon Alvarez Rendueles (Independent)

Edmond Pachura (Independent)

HRH the Prince Guillaume of Luxembourg (Independent)

Sergio Silva de Freitas (Independent)

Jean-Pierre Hansen (Independent)

-- Mittal Steel representatives:

Lakshmi N. Mittal, President of the Board

Vanisha Mittal

Wilbur Ross

Lewis Kaden (Independent)

Francois Pinault (Independent)

Narayanan Vaghul (Independent)

-- Shareholder representatives:

Georges Schmit (Luxembourg State)

Antoine Spillmann (JMAC)

Romain Zaleski (Tassara)

-- Employee representatives:

John Castegnaro

Michel Marti

Manuel Fernandez Lopez

Commenting, Joseph Kinsch, Chairman of the Board of ArcelorMittal, said:

"This is an important step towards the creation of the world'sfirst steelmaker. The high level of competence and the experience ofthe members of this Management Board will allow Arcelor Mittal toswiftly set up a highly efficient organisation which will be bestpositioned to realise its remarkable value creation potential.

"I have been working closely for years with Roland Junck. Hisexperience in Luxembourg's steel mills, which he contributed tomodernise, in Spain after the privatisation of the Spanish steelindustry, in South America where he steered Arcelor's long carbonbusiness, as well as more recently in China where he oversaw ourexpansion plans, has given him an in-depth knowledge and afar-reaching vision of the steel industry."

Lakshmi N. Mittal, President of the Board of Arcelor Mittal, said:

"I am delighted to be able to announce today the details of thenew Management Board and Board of Directors of Arcelor Mittal. I amconfident that we have put together a very strong Management Board,comprising some of the most experienced executives in the steelindustry. They have already been working closely together over thepast six weeks and have established a good rapport which augurs wellfor the future integration of the two companies.

"I am delighted that Mr Roland Junck has been appointed as theChief Executive position. I have been very impressed by my dealingswith him in recent weeks, which gives me great confidence in hisability to lead the new company. I am looking forward to workingclosely with him on the future strategy and growth of the new ArcelorMittal."

Roland Junck, CEO Arcelor Mittal, said:

"I am very proud to be taking up the position of CEO at ArcelorMittal. I have had many happy years working at Arcelor and itspredecessor companies. I have also watched with admiration the growthof Mittal Steel which has established itself as one of the mostexciting and dynamic companies in the steel industry today.

"I am very excited about the challenges of leading a company ofthis heritage. The discussions I have had over the past few days withMr Mittal have given me great encouragement and I am very much lookingforward to working closely with him.

"I will be supported by an exceptional management team and we willwork together to deliver on the potential of this great company."

About Arcelor Mittal

Arcelor Mittal is the world's leading steel company, by bothrevenue and production. The company operates 61 plants across 27countries, employing some 320,000 employees.

Conference Calls

Arcelor Mittal will host a press conference at 15.30 Londontime/16.30 European/10.30 New York Time today at The LanesboroughHotel, Hyde Park Corner, London SW1X 7TA.

A webcast of the press conference can be viewed onwww.mittalsteel.com and www.arcelor.com or by dialing +44 20 7365 8426(password Mittal).

No Offer

No offer to exchange or purchase any Arcelor shares or convertiblebonds has been or will be made in The Netherlands or in anyjurisdiction other than Luxembourg, Belgium, Spain, France and theUnited States. This document does not constitute an offer to exchangeor purchase any Arcelor shares or convertible bonds. Such an offer ismade only pursuant to the official offer document approved by theappropriate regulators.

Important information

In connection with its proposed acquisition of Arcelor S.A.,Mittal Steel has filed important documents (1) in Europe, with theCommission de Surveillance du Secteur Financier (CSSF) in Luxembourg,the Commission Bancaire, Financiere et des Assurances (CBFA) inBelgium, the Comision Nacional del Mercado de Valores (CNMV) in Spainand the Autorite des marches financiers (AMF) in France, includinglocal versions of the Information Document approved by the CSSF, theCBFA and the AMF (AMF approval no. 06-139) on May 16, 2006 and by theCNMV on May 22, 2006 and local versions of supplements theretoapproved by such regulators on May 31, 2006 (AMF approval no. 06-169)and July 4, 2006 (AMF no. 06-250), and a Share Listing Prospectusapproved by the Autoriteit Financiele Markten (AFM) in The Netherlandson May 16, 2006 and supplements thereto approved by the AFM on May 31,2006, June 23, 2006, July 4, 2006, and July 5, 2006 and (2) with theSecurities and Exchange Commission (SEC) in the United States,including a registration statement on Form F-4, a Prospectus for theexchange offer, dated June 7, 2006, an Amended and Restated ExchangeOffer Prospectus, dated June 29, 2006, a prospectus supplement datedJuly 7, 2006, and related documents. Investors and Arcelor securityholders outside the United States are urged to carefully read theInformation Document and the Share Listing Prospectus, including thesupplements thereto, which together contain all relevant informationin relation to the Offer. Investors and Arcelor security holders inthe United States are urged to carefully read the registrationstatement on Form F-4, the Amended and Restated Exchange OfferProspectus, the prospectus supplement thereto, and related documents.All such documents contain important information. Investors andArcelor security holders may obtain copies of such documents free ofcharge on Mittal Steel's website at www.mittalsteel.com. In addition,the French version of the Information Document is available on theAMF's website at www.amf-france.org, the Spanish version of theInformation Document is available on the CNMV's website atwww.cnmv.es, and the registration statement on Form F-4, the Amendedand Restated Prospectus, the prospectus supplement thereto and relateddocuments are available on the SEC's website at www.sec.gov.