To: <Name of Proprietor/Director> <Name of organisation> <Location>

Mumbai Issued On: <Date>

Dear Mr./Ms., It is our pleasure to welcome you to our growing list of members of the Steel Mart Club. Steel Mart India Private Limited has a mutual win-win philosophy to create value for our partners, and customers. As a Steel Mart Club member you will be eligible to market all products carried by Steel Mart as per the terms and conditions mentioned below: Start Date: End Date: 30th September 2010 Renewal: Every six months as per mutual agreement Product: ArcelorMittal 500D Rebar Customer Segment: Retail/Project/Retail & Project Business Area: ABC district of DEF state or 5 km. Radius from your store/stockyard located in XYZ street, ABC town & DEF district, GHI state. Payment Term: 100% Advance All club members enjoy the following privileges: Priority availability of products. All members sign up to our periodic replenishment model. It enables us to track your stock on daily basis, and replenish stock as required, reducing the possibility of stock out. Door Delivery. We aim to provide door delivery to respective store/stock yard. In case of small size of orders, we may request you to arrange for the transport, and transport element of freight would be discounted from the price. Preferential Pricing. All members enjoy preferential prices. Prices are generally announced once in the first week of every month. In addition to preferential prices, members also benefit from last week cash back offers, which ensure that in case of downward revision of prices in the first week of the next month, the material purchased in the last week of the previous month is re-priced at new announced prices. In Store Marketing Material. All members are provided sign boards, brochures, technical catalogues, and any other appropriate materials which help improve members ability to market Steel Mart products. Members also have the permission to use the ArcelorMittal and Steel Mart logo for wall paintings and in Steel Mart provided signage, as per prescribed regulations. Product Promotion Activities. We intend to supplement members marketing activities in their business area, with promotional activity of our own, including customer meets, etc. Appointment of Sub-Dealers. Members are allowed to appoint sub-dealers in their business area, after prior written permission of Steel Mart. All sub-dealers will need to be registered with Steel Mart, sign up for periodic replenishment model, and display in-store signage of Steel Mart.

As a member of Steel Mart Club, you have also committed to following responsibilities: Establish market share for our product. We have mutually agreed that the weekly target for your business area is __________ MT. You are required to make all efforts to maintain this market share. Maintaining Minimum Stock. We have mutually agreed to maintain minimum stock as per agreed targets set in the replenishment model. This will help serve customers better. Daily Reporting. All members are required to provide daily stock report, as per the format provided time to time by Steel Mart. This can be provided by fax or email, as is convenient for you. Weekly Replenishment. All members are required to replenish stocks of items to the extent of their sales based on the replenishment model of Steel Mart. Please request full clarity regarding the Rules of Replenishment in the attached sheet. Display Product & Signage. All members are required to provide prominent display to our products, as well as display product signage and wall painting as per the regulations provided. Members also commit to take due care to follow all regulations on signage, and to ensure that logo of neither ArcelorMittal nor Steel Mart are used without permission in a manner not previously sanctioned. Gathering Market Information. All members are required to provide market information as per prescribed formats every week. This will help Steel Mart adjust to the needs of each Members local market more proficiently.

Correspondence Address With relation to any correspondence with regards to the membership terms laid out in this letter, please send in writing to: Managing Director Steel Mart India Private Limited 7 Onlooker Building, Sir PM Road, Mumbai 400001. India. Tel: + 91 22 4069 6201 Fax: +91 22 4069 6299 Email: Club@steelmartindia.co.in Steel Mart maintains a business-at-will relationship with its Club Members. This means that both you and Steel Mart retain the right to terminate this membership at any time for any reason with 30 days notice of the same. All privileges of membership indicated in this letter are subject to your continued membership. Commitments of payments will survive beyond termination, even in case of termination of membership. On termination, the member will be required to return all branding material, and remove all signage put up in the store as a member of Steel Mart. This letter constitutes our complete terms of membership. Any promises or representation, either oral or written, that are not contained in this letter are not valid and are not binding on Steel Mart. Once again, we welcome you as a member of Steel Mart Club, and look forward to building a profitable business relationship together. Please sign in the place provided below to confirm your acceptance of the terms stated in this letter. Yours sincerely, For Steel Mart India Private Limited

Managing Director

Chief Customer Officer/Head of Sales

Accepted on behalf of ______________________________

(Authorised Signatory) Name: __________________ Designation: _______________ Date: ____________