Arcelormittal : Arcelormittal and Thyssenkrupp Steel Announce Closure of Joint E-Commerce Platform

Regulatory News:

ArcelorMittal and ThyssenKrupp Steel today announce the closure, by the end of September 2007, of the e-commerce platform STEEL24-7 the two companies were running jointly.

The decision to close STEEL24-7 was taken by the Board of Directors of STEEL24-7 at a meeting in Düsseldorf on August 27, and confirmed by a special shareholders meeting in Brussels on September 28. Employees of the company were informed as from July about the impending decision.

The platform was created in 2001 by the four largest European steel producers together. The ambition was to serve as many steel customers and suppliers as possible via one common and mutually used electronic platform.

Since then, both the evolution of information technology and the fast-paced consolidation of the steel industry have given a decisive competitive edge to more individualised solutions, thus making the original concept of STEEL24-7 obsolete.

Therefore, ArcelorMittal and ThyssenKrupp Steel have agreed to close the platform and develop their own e-commerce solutions.

Both companies' customers are in the meantime being familiarized with these solutions.

STEEL24-7 had about 700 registered customers from 37 countries and had been used for more than one million transactions.

About ArcelorMittal

ArcelorMittal is the world's number one steel company, with 320,000 employees in more than 60 countries. The company brings together the world's number one and number two steel companies, Arcelor and Mittal Steel.

ArcelorMittal is the leader in all major global markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. An industrial presence in 27 European, Asian, African and American countries exposes the company to all the key steel markets, from emerging to mature, positions it will be looking to develop in the high-growth Chinese and Indian markets.

ArcelorMittal key pro forma financials for 2006 show combined revenues of USD 88.6 billions, with a crude steel production of 118 million tonnes, representing around 10 per cent of world steel output.

ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MTP), Brussels (MTBL), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid (MTS) and Valencia.

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