ISG ING Groep NV

International Steel Group Successfully Launches Hot Briquetted Iron Facility in Trinidad RICHFIELD, Ohio, Nov. 18 /PRNewswire-FirstCall/ -- International Steel Group Inc. (NYSE:ISG) today announced the successful start-up of its hot briquetted iron (HBI) facility in Trinidad and Tobago. ISG purchased the facility in July 2004 from Cliffs and Associates Limited as part of its strategy to stabilize its raw material supplies and costs. (Photo: http://www.newscom.com/cgi-bin/prnh/20041118/CLTH077 ) "We are very pleased that this successful start-up occurred as planned," said Rodney B. Mott, ISG president and chief executive officer. "I applaud the entire ISG team that worked so diligently to accomplish this task. We purchased this facility to support our raw material strategy by utilizing the latest technology. Restarting the Trinidad plant is another example of our commitment to that strategy, which will control costs and better ensure our supply of raw materials." The plant officially began production Friday, November 12 and is already running at more than 50 percent capacity with few minor start-up issues. ISG management is aiming for a production rate of 36 tons per hour in the next few months and hopes to reach design capacity by next summer. HBI can be used in both electric arc and blast furnaces as a high-quality substitute for scrap steel. It can also be used to increase the efficiency of blast furnaces and thereby reduce the consumption of coke. Production from this facility will provide ISG another hedge in the face of volatile raw material costs. "We were fully aware of certain technical problems the former owners experienced with this facility," Mott continued. "We were confident that our people could resolve those issues and quickly bring this plant on line successfully. This again demonstrates the knowledge, experience and determination of ISG people to get the job done." ISG's Trinidad facility has the capacity to produce approximately 550,000 tons (500,000 metric tons) of HBI annually. The process uses natural gas to heat iron ore fines (powder and small particles) in a liquid slurry and reduce the mixture under a hydrogen environment into iron briquettes. "This is a very cost-effective technology," remarked Brian Kurtz, vice president and general manager, ISG Georgetown, who manages the plant. "With this state-of-the-industry process, we can convert what is normally less- desirable, lower-quality iron ore fines into high-iron-content briquettes. Iron ore fines are available in ample supplies because most producers prefer lump ore and pellets. And with ample supplies of low-cost natural gas, a strong team and direct access to ocean shipping, our Trinidad facility can produce HBI competitively when compared to scrap steel." Each finished briquette weighs approximately one kilogram (2.2 pounds) and has an iron content of more than 90 percent. The HBI produced at the Trinidad facility will be used at various ISG facilities throughout the company to better manage raw material costs. About International Steel Group Inc. International Steel Group Inc. is one of the largest steel producers in North America. It produces a variety of steel products including hot-rolled, cold-rolled and coated sheets, tin mill products, carbon and alloy plates, wire rod and rail products and semi-finished shapes to serve the automotive, construction, pipe and tube, appliance, container and machinery markets. For additional information on ISG, visit http://www.intlsteel.com/ . Forward-Looking Statements Statements in this release that are not historical facts, including statements accompanied by words such as "will," "believe," "expect," "estimate," or similar terms, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward- looking statements involve risks and uncertainties that may cause actual results or events to differ materially from those expressed or implied in such statements. These statements contain time-sensitive information that reflects management's best analysis only as of the date of this release. ISG does not undertake any ongoing obligation, other than that imposed by law, to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release. Factors that may cause actual results and performance to differ materially from those in the forward-looking statements include, but are not limited to, negative overall economic conditions or conditions in the markets served; competition within the steel industry; changes in U.S. or foreign trade policy affecting steel imports or exports; changes in foreign currencies affecting the strength of the U.S. dollar; actions by domestic and foreign competitors; the inability to achieve the Company's anticipated growth objectives; changes in availability or cost of raw materials, energy or other supplies; labor issues affecting the Company's workforce or the steel industry generally; and the inability to implement the Company's operating culture and philosophy at acquired facilities. Further information concerning issues that could materially affect financial performance related to forward-looking statements can be found in ISG's filings with the Securities and Exchange Commission. http://www.newscom.com/cgi-bin/prnh/20041118/CLTH077 DATASOURCE: International Steel Group Inc. CONTACT: Investor Relations, Blaise Derrico, Manager, Investor Relations, +1-330-659-7430, or Media, Charles T. Glazer, Manager, Communications and Public Relations, +1-330-659-9121, both of International Steel Group Inc. Web site: http://www.intlsteel.com/

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