February 21, 2007 – Mittal Steel Company N.V. (“Arcelor Mittal”, “Mittal Steel” or “the Company”) ( New York: MT; Amsterdam: MT; Madrid: MTS; Paris: MTP; Brussels: MTBL; Luxembourg: MT), the world’s largest and most global steel company, today announced results for the three and twelve months ended December 31, 2006.
2006 and Q406 Pro forma highlights (on the basis of IFRS, amounts US$ and Euros1):
Strong pro forma results in line with guidance
Full year crude steel production and shipments of 118 million tonnes and 110.5 million tonnes, respectively
2006 pro forma EBITDA of $15.3 billion, ahead of 2005 pro forma
$4.3 billion cash generated from operations in Q406 and s trong net debt reduction in Q406 of $2.3 billion over Q306
Distribution of $2.4 billion including a $1.8 billion cash dividend and $590 million share buy-back - Annual base dividend policy confirmed

Q4 Highlights (on the basis of IFRS, amounts US$ and Euros1):

(US dollars in millions except earnings per share and shipments data)
Pro forma results US Dollars
Q4 2006 Q3 2006 12M 2006 12M 2005
Shipments (Million MT)2 26.7 26.9 110.5 102.9
Sales 23,203 22,069 88,576 80,171
EBITDA 3 4,118 4,354 15,272 14,959
Operating income 3,243 3,444 11,824 11,648
Net income 2,371 2,182 7,973 8,263
Basic Earnings Per Share $1.72 $1.58 $5.76 $5.97

(Euros in millions except earnings per share and shipments data)
Pro forma results Euros1
Q4 2006 Q3 2006 12M 2006 12M 2005
Shipments (Million MT)2 26.7 26.9 110.5 102.9
Sales 17,997 17,312 70,534 64,431
EBITDA 3 3,194 3,415 12,161 12,022
Operating income 2,515 2,702 9,416 9,361
Net income 1,839 1,712 6,349 6,641
Basic Earnings Per Share €1.33 €1.24 €4.59 €4.80

1 US Dollars have been translated into Euros using an average exchange rate of (US$/Euro) of 1.2893, 1.2748, 1.2558 and 1.2443 for Q4 2006, Q3 2006, 12M 2006 and 2005, respectively.
2 Some intercompany shipments are not eliminated
3 EBITDA is defined as operating income plus depreciation
Commenting, Lakshmi N. Mittal, President and CEO, Arcelor Mittal, said:

“I am pleased to report a strong performance in 2006 for Arcelor Mittal, with strong cash flow from operations and EBITDA in line with guidance.

This strong set of pro forma numbers clearly demonstrates the benefits of the merger between Arcelor and Mittal Steel. On a pro forma basis, Arcelor Mittal has now reported consistent EBITDA of approximately US$15 billion for three years, illustrating how our diversified geographic and product profile is helping deliver sustainable results.

The integration of Mittal Steel with all of its recent acquisitions is progressing well, and we are on track to deliver anticipated synergies. Simultaneously, we are continuing to execute our strategy and further build on our market leading position, as seen by our recent acquisitions and expansion plans both in steel and mining.

Looking forward, the market is stable and we are anticipating performance for the first quarter 2007 to be in-line with fourth quarter 2006 levels.”