DANIELI THE RELIABLE INNOVATIVE TEAM IN THE METALSINDUSTRY

London, 5 December 2007

CORPORATE OVERVIEW DANIELI GROUP

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Content

INTRODUCTION• Danieli at the glance• A worldwide operator• Structure• Ownership

DANIELI: ENGINEERING & CONSTRUCTION DIVISION• Products and Markets• Prospective for the market• International growth

ABS: STEEL MAKING DIVISION• A turnaround history• Products portfolio

DANIELI GROUP FINANCIAL HIGHLIGHTS• Basic items• Actual and forecasted trend• Capex• Order backlog• Shares performance

DANIELI ENGINEERING & MANUFACTURING DIVISION

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4

Danieli Headquarters

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Danieli at a glance

Danieli was founded in 1914 and since the beginning was one of the pioneers to use electric arc furnaces in steelmaking and in the industrial application of the minimillconcept. Danieli designs, manufactures, erects and start up steel plants and equipment both on turn key and single units supply basis and operates amongst the three largest worldwide suppliers of equipment and plants to the steel industry. Danieli is also directely involved in the steel sector through ABS, the Steelmaking Division fully owned. Danieli is worldwide recognized as one of the most innovative and reliable operator in the steel industry and operates with eleven design center, five production units and four engineering departments: - Buttrio, Italy (Danieli headquarters), - Meinerzhagen, Germany (Danieli Fröhling) - Beijing, China (Danieli Metallurgical Beijing)- Bangkok, Thailand (Danieli Far East)- Shanghai, China (Danieli Changsu)Danieli operates with his own modern workshop to manufacture all nobles parts of the plants and is historically focused on a constant technological improvement.- Ukraina: Danieli Heavy Machinery- Polska: Danieli Polska- Romania: Danieli Romania- Spain: Procome SA- Germany: W+K Gmbh- Austria: Danieli Engineering Service Gmbh- Japan: Danieli Engineering Japan

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A worldwide operator

Construction / EngineeringITALY - ROMANIA - SPAIN - INDIA THAILAND - P.R. CHINA - AUSTRIA

EngineeringUSA - FRANCE - UK - THE NETHERLANDS - SWEDEN POLAND - GERMANY - UKRAINA - JAPAN

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Danieli group structure

DANIELI ITALY

Industrielle Beteiligung SALUXEMBOURG

Danieli International SALUXEMBOURG

EUROPE

CHINATHAILANDINDIAJAPAN

Danieli EngineeringDanieli Centro MetallicsDanieli Centro MetDanieli Wean UnitedDanieli MorgårdshammarDanieli Centro TubeDanieli Centro MaskinDanieli BredaDanieli EnvironmentDanieli ServiceDanieli Construction SpaDanieli Automation SpaDanieli Centro Combustion SpaStem SrlInde SpaMore Srl

Danieli Corus TSDanieli Davy Distington LtdDanieli FröhlingGmbHW+K Industrie TechnikGmbHDanieli Engineering & Services GmbH

Danieli Centro MaskinDanieli Centro MetMorgårdshammar ABSund Birsta ABDanieli PolskaEngineeringDanieli Heavy MachineryDanieli Russia Engineering

Danieli Corporation incDanieli Technology IncMorgardshammar IncDanieli Canada Inc

Danieli Metallurgical Equipment BeijingDanieli Metallurgical Equipment ChangshuDanieli Engineering IndiaDanieli Far EastDanieli Engineering Japan

ITALY USACANADA

SWEDEN POLAND UKRAINERUSSIA

NETHERLANDSUKGERMANYAUSTRIA

Investment Holding CompaniesProduct LinesIndustrial CompaniesTechnical Offices

Rotelec SADanieli Iberica SAProcome SA

FRANCE SPAIN

AMERICA ASIA

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Ownership

Main shareholders, on last General Assembly date, are:

SIND INTERNATIONAL 65.18%(owned by Mr. Benedetti and Danieli family)

Bank of New York, Luxembourg S.A. 2.92%

Credit Suisse Securities Europe Limited 2.70%

DANIELI & C. Spa 2.38%

TOTAL 73.18%

- 40,879,533 ordinary shares- 40,425,033 preferred shares

DANIELI is listed in the Italian Stock Exchange since 1984. The shares capital amount is divided into 81,304,566 shares consisting:

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Danieli Engineering and Construction divisions

Engineering

Ironmaking/ Steelmaking

Flat products/ Hot

Customer service

Flat products/ Cold

Extrusion, forging

Automation/ ProcessControl

Long products/ Rolling

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Modern Blast Furnace operationsDanieli Engineering and Construction - Products and market

• DANIELI is involved in both the construction and sale of plants for the iron and steel industry, offering a range of machines from primary process management to production of the finished product: practically from ore to finished product. In summary, the Danieli Group designs and builds plants for all process areas, such as:

- Pellet production plants ;- Blast furnaces;

- Direct reduction;- Steelworks for production of liquid steel;

- Continuous casting for: Blooms and billets, slabs and thin slabs;- Rolling mills for long products;

- Rolling mills for seamless tubes;- Hot and cold rolling mills for flat products;

- Process lines for flat products;- Plants for secondary processing, forging processing and extrusion processing;

� Portfolio can be summarise in four main classes:- Processing products (Pelletising, DRI and Blast Furnaces plants)- Steel making and casting Products- Long Products - Flat Products

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Danieli Engineering and Construction - Products and market

DANIELI is organized to provide a top performance supply either for simple new equipment, revamping or a turnkey project (that are antithetic in terms of value & complexity).

Thanks to synergy with other Companies belonging to the Group, DANIELI is fully subsidizing engineering, manufacturing (electrical, automation, mechanical & civil), project management, erection, commissioning and after sales service.

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Danieli Engineering and Construction - Products and market

BLASTFURNACE

DIRECTREDUCTION

PLANT

ELECTRICARC

FURNACE

BASICOXYGEN

CONVERTER

SLABCONTINUOUS

CASTING

THIN SLABCONTINUOUS

CASTING

PLATEAND

HOT STRIPMILL

COLDPLATE

FINISHING

HOT STRIPMILL

STRIPPROCESSING

LINESWELDED PIPE

LINESCOLD

STRIP/FOILMILL

SECTIONMILL

BAR/WIREROD MILL

DRAWING,PEELING,GRINDING

BLOOM/BILLET

CONTINUOUSCASTING

DIE FORGING

BLOOMINGMILL

INGOTCASTING

IRON OREMINING, ANDPROCESSING

SCRAPPROCESSING

COKEPLANT

LADLETREATMENT

VACUUMTREATMENT

DANIELI CORU S DANIELI CORU SDANIELI CORU S

DANIELI CENTRO ME TALLICS

DANIELI CENTRO ME TALLICS

DANIELI CENTRO ME T

DANIELI CENTRO ME T

DANIELI CENTRO ME T DANIELI CENTRO ME T

DANIELI CENTRO ME TDANIELI ROTELEC

DANIELI CENTRO ME T

DANIELI DAVY DISTINGTONDANIELI ROTELEC

DANIELI WEAN UNITE DDANIELI FRÔHLIN G

DANIELI WEAN UNITE DDANIELI ROTELEC

DANIELI WEAN UNITE DDANIELI CENTRO COMBUSTIO NDANIELI ROTELEC

DANIELI WEAN UNITE DDANIELI CENTRO COMBUSTIO NDANIELI FRÔHLIN G

DANIELI W+K INDUSTRIE TECHNI K

DANIELI WEAN UNITE DDANIELI CENTRO COMBUSTIO N

DANIELI WEAN UNITE D

DANIELI MORGÅRDSHAMMA RDANIELI CENTRO COMBUSTIO N

TUBEPROCESSING

PLANT

DANIELI CENTRO TUB EDANIELI CENTRO COMBUSTIO N

DANIELI MORGÅRDSHAMMA RDANIELI CENTRO COMBUSTIO N

DANIELI CENTRO MASKI N

HEATTREATMENT

DANIELI CENTRO COMBUSTIO N

DANIELI BREDADANIELI CENTRO COMBUSTIO N

DANIELI MORGÅRDSHAMMA RDANIELI CENTRO COMBUSTIO N

CleaningPicklingGalvanizingCoatingTinningSlittingCutting-to-lentghBlanking

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Danieli Engineering and Construction - Products and market

The total market value for the engineering and construction market will be around 15 billion USD in 2007.60% of the total market is shared by four big players: SMS, Siemens, VAI, D&C and the Japanese companies.40% of the remaining market is subdivided by many small companies and medium specialised companies. These players have the capability to compete only on particular technologies and in general they are active in the revamping projects.The peculiarity of the engineering and construction market is the high entry barriers. Only the four big players mentioned above are capable to provide turn key plants and the technology necessary to cover the complete range for the steel business.Therefore, the market is:

Out of 15 billion USD, 50% for equipment and plants for flat products, 45% for long products and the balance for other sectors (tube plants, etc).

VAI - Siemens 30%

SMS 30%

DANIELI 25%60%

JAPANESE 15%

40%

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• The progressive normalization of world politics and the good prospects for future steel consumption are driving our customer to migrate their production to new markets (Brasil, India, Russia and Middle East ) where cheaper transformation process costs are guaranteed

• A number of trends are clearly identifiable: - Modernization, rationalization and quality upgrades provide the main impetus behind investment in the traditional steel producing regions of Europe and the CIS. There were also signs of a slight upturn in North American investment. - New interest in the hot metal and liquid steel capacity forecasts an additional plant capacity not only in China but also in countries with access to local iron ore reserves, (e.g. Brazil, India, Iran and the CIS states). - On the basis of the growing domestic demand for steel and the availability of local supplies of energy at reasonable cost, we are expecting for new large-scale projects demand , and further expansion-related orders shall be developed the Middle East region.

Prospective for the market

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Danieli metamorphosis continued in the last period with a stronginternationalization to develop a new global approach to customer service and customer management, as well as ensuring more competitive production with new workshop in China, Thailand and new engineering offices in India, Ukraine and Austria.

International growth

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DFE Danieli Far East - Thailand

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DME Danieli Metallurgical Equipment - Beijing

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DME Danieli Metallurgical Equipment - Changshu

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Danieli Engineering & Service - Austria

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DANIELI STEELMAKING DIVISION

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ABS: Danieli Steelmaking Division

LADLE TURRET

HIGH SPEEDCASTER

TUNNELFURNACE

AUTOMATIC STAND CHANGINGAND STORING SYSTEM

ROUGHING / INTERMEDIATE FINISHING MILL

DWB

STACKINGSTATION COOLING BED

TMBCOIL

COMPACTOR

ON-LINE ANNEALINGCHAMBER

WIRE RODCOOLING

ABS ACCIAIERIE BERTOLI SAFAU

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ABS overview

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• ABS, whose origin dates back in 1909 is based on three production plants in the province of UDINE and supply speciality steels for the most diverse applications: from cars to industrial vehicles, mechanical industry, weldlesspipes for mechanical and petrochemical industries, bearings, special sections for railways equipm and re-rolling and forging steels

• ABS is now become one of the first 4 European players in terms of product selection and volume.

• In 2006-07 has produced 1,100,000 tons of liquid tapped steel equivalent to 960,000 tonns of sellable products. 300,000 tonns of Big Selection Products has been delivered.

ABS: Danieli Steelmaking Division - A turnaround hystory

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• Main issues in the industrial strategy are: - Optimisation and enlargement of new products lines and market shares- Reduction of transformation costs - Improvement in the environmental system - General improvement in product quality - Continuous increase in the export sales

• Its a turnaround history granted by the management capability to improve the existing production helped by the performance of the steel price together with the increasing of the plant flexibility

ABS: Danieli Steelmaking Division - A turnaround hystory

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Ingots

Conticastsections

Forged Products

Rolled products

With the aim to develop ABS towards the speciality steel sector, in the last periods the company has developed and invest in the quality of the production process in order to obtain best quality, a wide range of products both in steel grade and in dimension.Nowaday, the ABS products portfolio is made by:

ABS: Danieli Steelmaking Division - Products portfolio

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Pig iron for MinimillsDanieli Group Financial Highlights: basic items

EURO (1,000,000)* According to IAS/IFRS

Net income Net worthSales revenue

1010

46*

36 39

28

22

10 12

35*

10

20

30

40

50

250

500

750

1,000

1,250

1,500

1,750

2,000

2,250

2,500

50100150200250300350400450500550600

97 99 01 03 05 07 97 99 01 03 05 07 97 99 01 03 05 07

857 97

883

2 936

967

1,00

073

01,

150

1,49

5*2,

002*

2,45

7*

60

70

80 73*

428

401

553*

310 34

6 361 40

2 432

439

508*

598*

2,45

7*

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Forecast2007/2008

Sales revenue

EBITDA

EBIT

NET INCOME

Net financial position

Order backlog

Danieli Group Financial Highlights: actual and forecasted trend

EURO (1,000,000)

2003/2004 2005/20062004/2005

1,225

141.4

83.4

21.1

244.9

1,456

1,495

156

80.9

35

221.5

1982

2,002

179.5

91.7

46.8

459.8

2,149

2,500-2,700

255-275

-

-

-

3,100-3,300

2006/2007

2,456.6

237.5

135.4

73.3

402.7

3,098

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2006/2007

Sales revenue

EBITDA

EBIT

NET INCOME

Net financial position

Order backlog

Danieli Group Financial Highlights: ABS trend

2003/2004 2005/20062004/2005

307.6

10.5

(13.9)

(22.6)

(264)

110

525.5

50.5

23.7

8.2

(247)

182

529.4

55.5

32.6

13.2

(243)

283

792.8

102.1

71

38

(209)

362

EURO (1,000,000)

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2006/07

2007/08

2008/09

Danieli Group Financial Highlights: CAPEX

EURO (1,000,000)

Steelmaking TOTALPlant making

94

111

23

228

78

46

24

148

172

157

62

391

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Danieli Group Financial Highlights: order backlog items

ORDER BACKLOGAT 30/06/07PER PRODUCT LINE

ORDER BACKLOGAT 30/06/07PER GEOGRAPHICAL AREA

Steelmaking

Long productsdivision

Flat productsdivision

Steel meltshopdivision

Europe

34%

Americas

7%Africa &Middle East

17%

Far East

29%

Italy

13%30%

16%20%

12%

Other

22%

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Steel & plant making players - Relative performance

Source: BNP Paribas

60

80

100

120

140

160

180

200

220

240

260

280

300

320

Mar-05 May-05 Jul-05 Sep-05 Nov-05 Jan-06 Mar-06 May-06 Jul-06 Sep-06 Nov-06 Jan-07

DJ Euro St Telecom DJ Euro St Utilities DJ Euro St Oil & Gas DJ Euro St BanksDJ Euro St Insurance DJ Euro St Industrials DJ Euro St Food & Beverage DJ Euro St Auto"Steel making players" index "Plant making players" index Danieli

Jan 2006 Jan 2007DJ Euro St Telecom 7,4% -3,5%DJ Euro St Bank 22,0% 0,0%DJ Euro St Food & Beverage 22,0% -0,1%DJ Euro St Utilities 32,9% -1,3%DJ Euro St Insurance 13,7% -1,5%DJ Euro St Auto 35,3% 8,9%DJ Euro St Oil & Gas -1,5% -7,1%DJ Euro St Industrials 23,4% 3,0%"Steel making players" index 101,3% 9,0%"Plant making players" index 52,3% 3,9%

Danieli 140,2% 1,7%

Performance as of March 12, 2007 since

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Steel making players - Relative performance

70

90

110

130

150

170

190

210

230

250

270

290

310

330

350

Mar-05 May-05 Jul-05 Sep-05 Nov-05 Jan-06 Mar-06 May-06 Jul-06 Sep-06 Nov-06 Jan-07

Voestalpine Outokumpu Acerinox Rautaruukki Danieli

Jan 2006 Jan 2007

Voestalpine 131,9% 17,3%

Outokumpu 129,9% -0,8%

Acerinox 56,0% -17,4%

Rautaruukki 76,7% 22,5%

Average 98,6% 5,4%

Danieli 140,2% 1,7%

Performance as of March 12, 2007 since

Source: BNP Paribas

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Plant making players - Relative performance

50

70

90

110

130

150

170

190

210

230

250

270

290

310

330

Mar-05 May-05 Jul-05 Sep-05 Nov-05 Jan-06 Mar-06 May-06 Jul-06 Sep-06 Nov-06 Jan-07

Duerr Foster Wheeler Danieli

Jan 2006 Jan 2007

Duerr 8,5% 6,4%

Foster Wheeler 55,6% 3,8%

Average 32,0% 5,1%

Danieli 140,2% 1,7%

Performance as of March 12, 2007 since

Source: BNP Paribas

Thank you for your kind attention