Mittal Steel Company N.V. (“Mittal Steel”) announces the details of the sell-out right that, pursuant to Luxembourg law, entitles the remaining shareholders of Arcelor to sell their Arcelor shares to Mittal Steel within three months following the end of the on-going subsequent offering period, i.e., from August 18, 2006 until November 17, 2006 (inclusive).

In order to conform to Luxembourg law and to give effect to the exercise of the sell-out right, the remaining shareholders of Arcelor may sell their shares solely for cash, at a price of Eur40.40 per Arcelor share (i.e., the same as the cash consideration offered in the secondary cash offer), which the Luxembourg Commission de Surveillance du Secteur Financier (the “CSSF”) has indicated was the fair price of the all-cash consideration to be offered in the sell-out proceedings.

In order to comply with the provisions of the Luxembourg takeover law relating to the sell-out, as from August 18, 2006 and throughout the three-month period ending on November 17, 2006 (inclusive), Mittal Steel will have a standing buy order at a price of Eur40.40 per Arcelor share, on each of the markets where Arcelor shares are listed, including on Euronext Brussels, Euronext Paris, the Luxembourg Stock Exchange and the stock exchanges of Barcelona, Bilbao, Madrid and Valencia. Settlement of such trades will take place in accordance with the applicable rules on each such market.