ANNUAL REPORT ARCELOR 2003 - paperJam

NOTE 10 – RESIDUAL TERM OF CREDITORSDecember 31, 2003 December 31, 2002Up to 1 1 to 5 5 years Total Up to 1 1 to 5 5 years TotalIn EUR million year years or more year years or moreConvertible debenture loans 30 885 750 1,665 30 885 750 1,665Amounts owed to credit institutions p.m. - - p.m. p.m. - - p.m.Trade creditors 7 - - 7 2 - - 2Amounts owed to affiliated undertakings 20 - - 20 40 - - 40Amounts owed undertakings in whichthe Company has a participating interest p.m. - - p.m. p.m. - - p.m.Other creditors 5 - - 5 3 - - 3TOTAL 62 885 750 1,697 75 885 750 1,710The Company has not granted any security in respect of the above amounts.> Items covered by several headingsAmounts owed to affiliated undertakings and amounts owed to undertakings in which the Company has aparticipating interest include trade creditors amounting to EUR 21 million.NOTE 11 – OFF-BALANCE SHEET ITEMSGuarantees givenfinancial information > annual accountsIn EUR million 2003 2002Guarantees issued on debts 238 20Other commitments 1 -TOTAL 239 20NOTE 12 – FINANCIAL RESULTIn EUR million 2003 2002Dividends received 558 269Interest and similar charges (18) (3)Variations in value adjustments on investments - -TOTAL 540 266Income from investments primarily comprises dividends received from Arbed, Usinor Aceralia andArcelor Center Brussels.NOTE 13 – STAFFAverage number of employees 2003 2002Employees 170 60Workers - -TOTAL 170 60ANNUAL REPORT ARCELOR 2003 199