NLMK and Duferco wait for EU approval

The Russian mill Novolopetsk Steel (NLMK) and Guernsey-based Duferco Participations Holding Ltd (Duferco) are currently awaiting European Commission (EC) approval to undertake joint control of Luxemburg-based Steel Invest & Finance S.A (their joint venture company). In the event of a favorable EC decision, a group of companies currently solely owned by Duferco will be transferred to Steel Invest & Finance by way of share purchases. The provisional deadline for the EC decision is November 21, 2006.