Arcelor shareholders reject SeverStal merger

The extraordinary shareholders meeting of Arcelor, which met on 30 June 2006 under the Chairmanship of Mr Joseph Kinsch, has resolved to reject the proposed SeverStal merger. Approximately, 58% of the outstanding share capital of Arcelor, or 96% of the shares present or represented at the meeting, voted against the proposed SeverStal merger. Based on this result, Mr Kinsch stated that the strategic alliance agreement with Mr Mordashov will be terminated in accordance with the terms of such agreement.
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