ANNUAL REPORT ARCELOR 2003 - paperJam

Date Number of shares Capital operationsJune 8, 2001 25,800 Creation of Newco, later ArcelorDecember 11, 2001 6,450 Review of the book value bythe Extraordinary General Meeting of shareholdersFebruary 15, 2002 499,434,342 Public offer of exchange for Aceralia, Arbed andUsinor sharesFebruary 15, 2002 516,222,273 Tender of Arbed shares held by Staal Vlaanderen NVMarch 18, 2002 528,360,511 Reopening of the POE for Arbed and Usinor andtender of Aceralia shares by Arbed España BVAugust 5, 2002 531,712,287 Public offer of withdrawal by exchange for Usinor sharesAugust 22, 2002 532,127,226 Contribution of Usinor sharesNovember 6, 2002 532,366,409 Contribution of Usinor sharesJanuary 9, 2003 532,470,592 Contribution of Usinor sharesApril 9, 2003 532,729,577 Contribution of Usinor sharesgeneral information > information about the share capital of ArcelorJuly 9, 2003 532,832,262 Contribution of Usinor sharesOctober 9, 2003 533,040,796 Contribution of Usinor sharesShare capital distributionTo the best knowledge of the Board of Directors, theprincipal shareholders as at December 31, 2003 were:Shareholder %Luxembourg State 5.9%ARISTRAIN 4.1%Walloon region (SOGEPA) 3.8%Employees 2.6%Flemish region (Staal Vlaanderen) 2.4%EDF 1.7%BGL+BGL IP 0.8%Others (*) 78.7%TOTAL 100.0%* including treasury sharesANNUAL REPORT ARCELOR 2003 33