Mittal Steel Company to Appoint Francois Pinault as Independent Non-Executive Director

ROTTERDAM, The Netherlands, May 9  /PRNewswire-FirstCall/ -- Mittal Steel Company N.V.(NYSE MT), the world's largest and most global steel producer, announces today that the Board of Directors have recommended the appointment of Monsieur Francois Pinault as an Independent Non-Executive Director, subject to election by the shareholders. This election will take place at an extraordinary general meeting to be convened following today's annual general meeting.

Monsieur Francois Pinault, 69, is the founder and former president of the Artemis Group and PPR. The Artemis Group is a EUR25 billion global investment holding company with wide-ranging interests, including 42% of the listed company PPR. PPR includes retail brands such as FNAC, La Redoute, Le Printemps, Conforama and luxury brands such as Gucci Group, which includes Gucci, Bottega Veneta, Yves Saint Laurent, Boucheron, Balenciaga. Artemis also owns Chateau Latour vineyard in France and Christie's auction house. Monsieur Pinault also own insurance and media businesses and holds minority shares in the French group Bouygues. Monsieur Pinault serves on the Board of Directors for Financiere Pinault and Artemis. His board appointment with Mittal Steel marks Mr. Pinault's only board appointment for a company in which he does not have significant business interests.

Commenting, Lakshmi N. Mittal, Chairman and Chief Executive Officer, Mittal Steel said: "Monsieur Pinault brings a wealth of management skills and experience from the various senior executive positions he has held. Monsieur Pinault is one of Europe's most successful entrepreneurs and his guidance and business knowledge will prove an invaluable asset to Mittal Steel."

Ambassador Andres Rozental, Member of the Board of Directors and Chairman of Mittal Steel's Nominations Committee added: "This appointment will extend the independence of the Board of Directors. Mittal Steel has significantly expanded in recent years and this appointment shows the Board's dedication to ensure that we have the skill set to serve the needs of the expanded company. Monsieur Francois Pinault's appointment not only extends the independence of the Board of Directors but also brings the necessary attributes to ensure we move from strength to strength

About Mittal Steel

Mittal Steel Company is the world's largest and most global steel company. The company has operations in sixteen countries, on four continents. Mittal Steel encompasses all aspects of modern steelmaking, to produce a comprehensive portfolio of both flat and long steel products to meet a wide range of customer needs. It serves all the major steel consuming sectors, including automotive, appliance, machinery and construction.

For 2005, Mittal Steel had revenues of US$28.1 billion and steel shipments of 49.2 million tons. The company trades on the New York Stock Exchange and the Euronext Amsterdam under the ticker symbol "MT". 

DATASOURCE: Mittal Steel Company NV



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