ANNUAL REPORT ARCELOR 2003 - paperJam

Company name Consolidation Country Percentagemethodof capital heldcontrol (%)Haironville Slovensko Sro, Bratislava Full consolidation Slovakia 100.000000Haironville Sverige AB, Karlstad Full consolidation Sweden 100.000000Haironville UK Ltd, St Helens Full consolidation United Kingdom 100.000000Haironville Tac Ltd, St Helens Full consolidation United Kingdom 100.000000IMS International Métal Service S.A., Neuilly, subgroup, comprising 20 companies Equity method France 36.050354J & F Steel Llc, Burns Harbor Full consolidation United States 100.000000Jean Guille S.A., Thionville Full consolidation France 49.997500Jh Group Sci, Yutz Full consolidation France 99.999999Kempes & Koolen Bouwsystemen BV, Tiel Full consolidation the Netherlands 100.000000Konti Steel Hellas S.A., Magnissia Full consolidation Greece 100.000000Laminados Velasco subgroup, comprising the following companies:Laminados Velasco SL, Basauri Full consolidation Spain 80.002547Arcelor Distribución Valencia S.A., Valencia Full consolidation Spain 100.000000Arcelor Distribución Vigo S.A., Porriño Full consolidation Spain 100.000000Auxiliar Laminadora Alavesa S.A., Olaeta Full consolidation Spain 100.000000Calibrados Pradera S.A., Miravalles Equity method Spain 50.000000Cántabra de Laminados Velasco S.A., Santander Full consolidation Spain 100.000000Castellana de Laminados Velasco S.A., Burgos Full consolidation Spain 100.000000Elaborados y Construcción S.A., Getafe Full consolidation Spain 100.000000Ferronía S.A., Andoain Full consolidation Spain 100.000000Grupo Velasco Desarrollo SL, Basauri Full consolidation Spain 100.000000Industrias Zarra S.A., Galdacano Equity method Spain 25.000000Laminados Canarias S.A., Telde Full consolidation Spain 100.000000Laminados Comavesa S.A., Getafe Full consolidation Spain 100.000000Laminados Gonvelsa SL, Llanera Full consolidation Spain 50.000000Laminados Siderúrgicos Arbizu S.A., Arbizu Full consolidation Spain 100.000000Laminados Siderúrgicos Duero S.A., Aranda de Duero Full consolidation Spain 90.000000Laminados Siderúrgicos La Coruña S.A. Arteixo Full consolidation Spain 100.000000Laminados Siderúrgicos Miranda S.A. Miranda de Ebro Full consolidation Spain 100.000000Laminados Siderúrgicos Murcia S.A. San Ginés Full consolidation Spain 100.000000Laminados Siderúrgicos Orense S.A., San Ciprian de Viñas Full consolidation Spain 90.000000Laminados Siderúrgicos Sampol SL, Palma de Mallorca Full consolidation Spain 75.049900Laminados Siderúrgicos Sevilla S.A., Alcalá de Guadaira Full consolidation Spain 100.000000Laminados Siderúrgicos Toledo S.A., Villaluenga de la Sagra Full consolidation Spain 55.000000Laminados Siderúrgicos Valladolid S.A., Valladolid Full consolidation Spain 100.000000Laminados Siderúrgicos Vitoria S.A., Vitoria Full consolidation Spain 100.000000SA Productos Empresas Metalúrgicas, Salvatierra Full consolidation Spain 100.000000Servicio del Acero S.A., Basauri Full consolidation Spain 100.000000Tremad S.A., Icazteguieta Full consolidation Spain 90.000000Tubos y Decapados S.A., Basauri Full consolidation Spain 100.000000Longtain S.A., Manage Full consolidation Belgium 99.990568Laserflash S.A., Eupen Full consolidation Belgium 100.000000Lille Aciers S.A., Lomme Full consolidation France 100.000000Megaço Jma Comercio Siderúrgico Ltda, Palmela Equity method Portugal 38.666500Mirouze Novacier S.A., Toulouse Full consolidation France 100.000000Monteferro Stahl Service GmbH, Leichlingen Full consolidation Germany 100.000000Mosacier S.A., Liège Full consolidation Belgium 100.000000Oxyflash S.A., Melle Full consolidation Belgium 100.000000Pab Bazeilles S.A., Douzy Full consolidation France 99.998383Pab Sud S.A., Hagetmau Full consolidation France 100.000000Panneaux Frigorifiques Français S.A., Val d’Ize Full consolidation France 100.000000186ANNUAL REPORT ARCELOR 2003