First Half Year 1999 Reporting Bekaert Group

PROFIT UP 19%

Content

1. Key comments
2. Business report
3. Financial report
4. N.V. Bekaert S.A.
5. Outlook

Addendum

Consolidated profit and loss statement
Consolidated balance sheet
Data per share
Statutory accounts N.V. Bekaert S.A.

1. Key comments

The Bekaert Group, the world´s leading producer of steel wire, steel wire products, steel cord and a fast growing producer of advanced materials, headquartered in Belgium, achieved a consolidated profit of EUR 42.6 million in the first half of 1999 compared to EUR 35.9 million in the first half of 1998. Earnings per share, excluding minority interests, increased by 14 % to EUR 17.61.

Operating profit improved compared with the same period of last year largely due to the impact of our " Profit Improvement Programme " and lower raw material costs.

Foreign currency movements had no material impact on profit.

Higher profits from participating interests also contributed to a better result.

2. Business Report

The Group

Consolidated sales decreased by 3 %, while sales volume increased by 1 %. Volumes for Wire and Wire Products improved by 2 %. Steel Cord volume decreased by 3 %, due to non-tyre cord products. Sales of Advanced Materials increased by 7 %.

Sales of participating interests decreased by 8 % mainly as the result of currency movements. Volume increased by 1% due to the addition of the new joint venture Contours. Sales of Advanced Materials doubled compared to last year mainly due to Innovative Specialty Films LLC (ISF).

Combined sales decreased by 4 %, while volume of the consolidated companies and participating interests increased by 1 %.

Wire World-wide (consolidated companies and participating interests)

World-wide volume of the consolidated companies and participating interests increased by 3 %. Volume in the consolidated companies improved by 4 %, while volume in the participating interests increased 1 %.

Sales volume in Europe improved by 4 % as the plant in Czechia became fully operational. Stainless steel wires faced strong competition from Asia. Weak oil markets caused delays of projects that use rope and flexible pipe wires. Demand for building products, particularly for Dramix®, was strong. Twil (UK) returned to profitability.

In North America sales volume of Wire and Wire Products increased by 17 %, of which 14 % was due to the acquisition of Contours Ltd last year. The economy remained strong. We improved our market share as some competitors divested their steel wire business.

In Latin America the volume of Wire and Wire Products decreased 2 %. The region suffered from a depressed economy, particularly affecting Venezuela, Peru, Columbia and Ecuador. Despite the devaluation in Brazil volume was maintained.

In Asia, the new joint venture Shanghai-Bekaert-Ergang gradually increased its Dramix® production and further expansion programmes are under way.

M P Europe (consolidated companies and participating interests)

Sales volume for Merchant Products in Europe decreased by 2 %. In the UK, sales volumes recovered after a depressed 1998. Sales volumes in continental Europe decreased but the product mix improved. Rösler (G) retuned to profitability.

Steel Cord (consolidated companies and participating interests)

World-wide sales volume for steel cord decreased by 3 %. Sales volumes of tyre cord improved by 2 %. Sales volumes of bead wire and hose reinforcement wire decreased by 9 % and 19 % respectivily.

Demand for tyre cord was strong in Asia. In Brazil the devalued Real stimulated exports of tyres resulting in a higher activity in the Brazilian plants.

The bead wire market was affected by Asian competition and the hose reinforcement wire market was weak due to a slowdown in demand for heavy construction and farming equipment.

Bekaert Advanced Materials (consolidated companies and participating interests)

Sales in Bekaert Advanced Materials increased by 26 %. All activities contributed to this growth.

Sales in Bekaert Fibre Technologies increased by 4 % although demand for conductive plastics and filtration applications remained below expectations.

Sales of Bekaert Advanced Coatings increased by 87 %, mainly due to the new joint venture Innovative Specialty Film LLC (ISF).

Sales at Bekaert Composites increased by 24 %. Both factories, in Belgium and Spain, were operating at full capacity.

3. Financial report

(See attachments; consolidated profit and loss statement, consolidated balance sheet, data per share and the statutory accounts of N.V. Bekaert S.A.).

All statements are unaudited.

Key comments on the consolidated profit and loss statement

Key comments on the consolidated balance sheet

Key comments on the cash position

4. N.V. Bekaert S.A.

The parent company N.V. Bekaert S.A. achieved a turnover of EUR 352.1 million in the first half of 1999, compared with EUR 388.5 million in the first half of 1998, a decrease of 9 %.

Operating profit decreased by 9 %, from EUR 24.3 million to EUR 22.2 million.

N.V. Bekaert S.A.´s profit for the first half of 1999 increased from EUR 19.2 million to EUR 22.9 million.

5. Outlook

Order books and plant activity remain good. The world-wide expansion in selected wire segments and steel cord continues. For Bekaert Advanced Materials we expect further strong growth supported by acquisitions.

As was said at the annual general meeting of shareholders on May 26, and barring unforeseen economic developments, we are confident to achieve our estimate for the full year 1999 of EUR 30 earnings per share.

End of the press announcement.

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Addendum 1 - Press release dated 29 July 1999

Addendum 2 - Press release dated 29 July 1999

Addendum 3 - Press release dated 29 July 1999

Addendum 4 - Press release dated 29 July 1999