CHICAGO, Jan. 19 /PRNewswire/ -- Reacting to recent media reports, Mittal Steel USA confirms today that it has entered into a non-binding Memorandum of Understanding (MOU) with Esmark for the sale of the tin mill products business of Mittal Steel USA in Weirton, West Virginia. The transaction is subject to several contingencies, including the satisfactory completion of due diligence by Esmark, the completion of a mutually agreeable definitive purchase agreement, and mutually satisfactory arrangements with the Independent Steel Workers Union. The transaction is also subject to approval by the U.S. Department of Justice under a consent decree filed with the federal court in Washington, D.C. in August 2006 to resolve a complaint by the Justice Department that Mittal Steel's acquisition of Arcelor would likely reduce competition in the tin mill products market in the eastern U.S. That decree requires Mittal Steel to sell Dofasco, a Canadian company currently owned by a Dutch foundation for the benefit of Arcelor, but provides that if Mittal Steel is unable to sell Dofasco, Mittal Steel must sell either its Weirton or Sparrows Point facility at the election of the Department of Justice. As previously reported, ThyssenKrupp has sued Mittal Steel in Rotterdam to force Mittal Steel to cause Arcelor to sue the Dutch foundation that holds the shares of Dofasco. A decision in that case is expected January 23, 2007. Mittal Steel understands that the Department of Justice has made no decision regarding the divestiture options under the decree. Mittal Steel is in discussions with the Department of Justice regarding its divestiture obligations. The MOU contemplates execution of definitive transaction agreements by February 2, 2007 when the MOU terminates. While the parties hope to complete a transaction in the coming months, there can be no assurance as to whether or when all contingencies will be satisfied. "The negotiated non-binding memorandum of understanding allows us to prepare for a swift execution of the disposal of the Weirton assets in case Dofasco cannot be sold and the Department of Justice asks us to sell these operations," said Lou Schorsch, CEO, Flat Americas, Arcelor Mittal. About Mittal Steel USA Mittal Steel USA, with its affiliates, is the largest steel producer in North America and the largest integrated steel producer in the United States. It serves a broad U.S. manufacturing base. The company was formed in April 2005 and consists of the former Ispat Inland Inc. and the former International Steel Group. It has operations in 12 states of the United States. About Arcelor Mittal Arcelor Mittal is the world's number one steel company, with 330,000 employees in more than 60 countries. The company, which will be incorporated in 2007 following the successful tender offer, brings together the world's number one and number two steel companies, Arcelor and Mittal Steel. Arcelor Mittal 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. Arcelor Mittal key pro forma financials for the first nine months of 2006 show combined revenues of $65.4 billion, with approximate production capacity of 130 million tonnes a year, representing around 10 per cent of world steel output. The company respects the highest standards in corporate social responsibility and intends to periodically publish significant sustainable development key performance indicators to live up to this ambition. DATASOURCE: Mittal Steel USA CONTACT: Arcelor Mittal's Investor Relations, Continental Europe, +352 4792 2414, or UK/Asia/Africa, +44 207 543 1172, or Americas, +1-312-899-3569, or Retail, +352 4792 2434, or SRI, or +352 4792 2902, or Nicola Davidson, +44 207 543 1162 - 1172, or Luc Scheer, +352 4792 2360, or North America, Bill Steers, +1-312-899-3817, all of Arcelor Mittal's Communication, or UK media, Philip Gawith, +44 20 7379 5151, or Lydia Pretzlik, +44 20 7379 5151, both of Maitland Consultancy

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