Ispat International Enters Into Strategic Marketing Alliance With e-STEEL.

Business & High Tech Editors

ROTTERDAM, Netherlands & NEW YORK--(BUSINESS WIRE)--April 10, 2000

World's Most Global Steel Producer to Use Leading B2B Web Site

to Transact Millions of Tons of Steel;

e-STEEL Value Focus and Integration Efficiency Cited

Ispat International N.V. (NYSE: IST US; AEX: IST NA), a member of The LNM Group, one of the world's largest and fastest growing global steel producers, today announced that it has entered into a strategic marketing alliance with e-STEEL Corporation, the leading negotiation-based exchange for the global steel industry. Under the agreement, Ispat International will set important annual tonnage targets, and use e-STEEL, (www.e-steel.com) for marketing prime and non-prime products, and has made a small minority investment in e-STEEL, joining a prominent group of blue-chip investors backing the B2B online exchange.

"Our alliance with e-STEEL will allow us to transact on a one-to-one basis with our customers. This fits well with our overall e-Business strategy and approach to aligning Ispat International with its growing customer base. Our sales and marketing strategy is to expand our growing customer base and market reach, and e-STEEL allows us that opportunity," said Lakshmi N. Mittal, Chairman and CEO of Ispat International. "We look forward to working with e-STEEL to maximize the opportunities offered by the growing, online global steel marketplace." Mittal added.

"Ispat International's proven track record as a leading global steel industry innovator makes this an important alliance with e-STEEL," said Michael S. Levin, e-STEEL Chairman, Founder and CEO. "As a leading force in the largest segments of the steel industry, this endorsement by Ispat is an important validation of our value-driven, global business model, and unique capabilities."

The two companies also agreed to develop several extensive integration initiatives aimed at stronger electronic links between Ispat International systems and the e-STEEL Exchange. These initiatives will provide significantly more cost efficient end-to-end e-Commerce for Ispat throughout its inventory management and order fulfillment systems.

"This partnership between e-STEEL, the global leader in steel e-Commerce and Ispat International, the world's most global steel producer, marks an especially significant event in the rapidly growing B2B steel e-Commerce segment." said Levin.

The Ispat/e-STEEL alliance encompasses the steelmaker's sales and marketing e-Commerce goals and is separate from Metique MarketSite, a global online procurement exchange founded by Ispat International and Commerce One last month.

One of the world's largest steel producers, Ispat International had combined revenues in excess of US$4.7 billion based on shipments of 15.4 million tons of steel products in 1999. This represents an increase of shipments of 43% since 1998, making Ispat International on of the world's fastest growing steel makers. The company has major integrated steel operations in seven countries including the United States, Canada, Mexico, Trinidad, Germany, France and Ireland.

e-STEEL is the global leader in steel e-Commerce. Currently, more than 2000 companies, from 70 countries, representing all segments of the $700 billion steel industry are members of the e-STEEL Exchange. The web site's proprietary STEELDIRECT(TM) technology provides a secure, customized transaction environment which enables both buyers and sellers of steel products to initiate a completely negotiated-based transaction with either specific existing commercial partners, or easily find new business pairings.

About e-STEEL

New York City-based e-STEEL Corporation (www.e-steel.com) is a leading Internet-based, neutral marketplace for prime and secondary products serving the $700 billion global steel industry. Its electronic commerce solution web site unites buyers and sellers, and provides an array of resources for sales and purchasing professionals throughout the steel value chain. e-STEEL provides an easy-to-use, secure web site where both steel buyers and sellers can initiate, describe, specifically target, negotiate, and conclude transactions online.

In the past two months, e-STEEL has formed strategic alliances with several top steel industry participants, including Dofasco, Inc., Dueferco Group, Worthington Steel, U.S. Steel, and National Steel. Additionally, the company formed an e-Commerce joint venture for the Japanese domestic market with top-tier Japanese trading companies, Mitsui & Co., Mitsubishi Corporation, and Nissho Iwai Corp.

Founded in September 1998, e-STEEL has 130 employees, and offices in New York, Chicago, Pittsburgh, Atlanta, Brussels, Tokyo and Singapore. Strategic investors include Goldman, Sachs & Co.; Amerindo Investment Advisors, Bessemer Venture Partners, Dofasco Inc., DuPont, GE Capital, Greylock, Ispat International, Kleiner Perkins Caufield & Byers, MC Capital Inc., MSD Capital, Mitsui & Company U.S.A. Inc., a subsidiary of Mitsubishi Corp., U.S. Steel Corporation, and Vulcan Ventures.

About Ispat International N.V. (www.ispat.com)

Ispat International N.V., a member of The LNM Group, is the world's fifth largest steel producer, with operations in countries including the United States, Canada, Mexico, Trinidad, Germany, France and Ireland.

A leader in steel making technologies, Ispat International is also the world's largest producer and consumer of Direct Reduced Iron. The company has over 18,000 employees and manufactures a broad range of coated, cold rolled and hot rolled products, high quality wire rods and semi-finished flat and long products. The LNM Group also has steel making operations at Ispat Karmet in Kazakhstan and Ispat Indo in Indonesia.

About Metique MarketSite (www.metique.com)

Metique MarketSite, based upon the Commerce One(R) MarketSite(TM) Portal Solution, is the first global B2B procurement portal for the metals and mining industry. Founded by Ispat International N.V. and Commerce One, the MarketSite is open to all metals and mining companies, including the steel, aluminium, zinc, copper and mining sectors, their suppliers and their customers. It represents the first objective and collaborative effort by companies in the metals and mining world to realize significant cost and other benefits, enabled by new tools and services including state-of-the-art software, automation, comprehensive catalog services and a network of fully connected buyers and suppliers. The new company operates as an independent business, with its own management team.

This news release contains forward-looking statements that involve a number of risks and uncertainties. These statements are based on current expectations whereas actual results may differ.