CORUS ANNOUNCES AGREEMENT TO ACQUIRE FULL OWNERSHIP OF SEGAL
12 November 2004 - Corus

Corus Group plc announced today that Corus Staal BV, currently 50% owner of Segal SA, has signed an agreement to purchase the remaining 50% shareholding in this Belgian hot dipped galvanising line from MetalInvest investment fund, its joint venture partner in Segal for a consideration of EUR 25 million in cash.

Corus expects the transaction to be completed by the end of 2004, following regulatory approval by the Belgian Competition Authority (‘Raad voor de Mededinging’).

Rauke Henstra, Division Director Strip Products commented: 'The acquisition of full ownership of Segal, a modern plant using state-of-the-art technology, strengthens the position of Corus Strip Products IJmuiden at the high end of the market for galvanised sheet for the automotive sector, and demonstrates Corus' continued investment in the growing market for hot dipped galvanised sheet in Europe. This investment provides a strong platform for further developing our market position in value added products.'

Segal employs 155 people and produces 500 000 tonnes of hot dipped galvanised sheet annually.

Corus Staal BV is a wholly owned subsidiary of Corus Group Plc that owns the Group's principal steelmaking assets in the Netherlands.

http://www.corusgroup.com

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