ArcelorMittal to Sell a Package of 134,317,503 Shares and Warrants in Respect of a Further 134,317,503 Shares in Ereğli Demir ve Çelik Fabrikaları T.A.Ş. (“Erdemir”)

Regulatory News:

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ArcelorMittal announces its intention to sell (through certain subsidiaries), 134,317,503 shares (the “Shares”) and a series of warrants in respect of 134,317,503 Shares (the “Warrants”) in Ereğli Demir ve Çelik Fabrikaları T.A.Ş. (“Erdemir”) by way of a single accelerated bookbuilt offering to institutional investors (the “Transaction”). ArcelorMittal currently owns 537,270,015 Shares in Erdemir representing approximately 25% of Erdemir’s share capital. Following completion of the Transaction it is expected that ArcelorMittal will hold approximately 18.7% of Erdemir’s share capital, decreasing to approximately 12.5% if all of the Warrants are exercised.

Investors will be offered an equal number of Shares and Warrants. For every three Shares purchased, investors will receive one Series A Warrant, one Series B Warrant and one Series C Warrant. The Warrants will be transferable and freely tradable from the settlement date of the Transaction. ArcelorMittal intends the Warrants to be admitted to trading on the Open Market (Freiverkehr) segment of the Frankfurt Stock Exchange within 14 days of the settlement date.

There is expected to be a total of 44,772,501 Series A Warrants, which will have a maturity of three months and a strike price that is 105% above the placing price of the Transaction, a total of 44,772,501 Series B Warrants, which will have a maturity of six months and a strike price that is 110% above the placing price of the Transaction, and a total of 44,772,501 Series C Warrants, which will have a maturity of approximately eight and a half months and a strike price that is 115% above the placing price of the Transaction.

The Warrants will include customary Euro market anti dilution provisions (including full dividend protection) and will be exercisable for cash from the settlement date until 10 days prior to the relevant maturity date.

"Erdemir is a strong business with excellent prospects. However, our stake has always been non-core as we have never exercised any control. So this decision is very much in line with our declared Group strategy of focusing on core assets and reducing net debt”, said Aditya Mittal, CFO and member of the Group Management Board for ArcelorMittal. “The shares freed up by this transaction will improve Erdemir's liquidity and attract a wider range of investors."

ArcelorMittal has agreed to a 365 day lock-up period (subject to customary exceptions) on its remaining stake in Erdemir.

Bookbuilding will commence immediately and will be managed by Goldman Sachs International as Sole Bookrunner.

About ArcelorMittal

ArcelorMittal is the world's leading steel and mining company, with a presence in more than 60 countries.

ArcelorMittal is the leader in all major global carbon steel markets, including automotive, construction, household appliances and packaging, with leading R&D and technology. The Group also has a world class mining business with a global portfolio of over 20 mines in operation and development, and is the world’s 4th largest iron ore producer. With operations in over 22 countries spanning four continents, the Company covers all of the key industrial markets, from emerging to mature, and has outstanding distribution networks.

Through its core values of sustainability, quality and leadership, ArcelorMittal commits to operating in a responsible way with respect to the health, safety and well-being of its employees, contractors and the communities in which it operates. It is also committed to the sustainable management of the environment. It takes a leading role in the industry's efforts to develop breakthrough steelmaking technologies and is actively researching and developing steel-based technologies and solutions that contribute to combat climate change. ArcelorMittal is a member of the FTSE4Good Index and the Dow Jones Sustainability World Index.

In 2011, ArcelorMittal had revenues of $94.0 billion and crude steel production of 91.9 million tonnes, representing approximately 6 per cent of world steel output. The Group's mining operations produced 54 million tonnes of iron ore and 8 million tonnes of metallurgical coal.

ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).

For more information about ArcelorMittal visit: www.arcelormittal.com

Important notice

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO BUY, SELL, ISSUE, OR SUBSCRIBE FOR, OR THE SOLICITATION OF AN OFFER TO BUY, SELL, ISSUE, OR SUBSCRIBE FOR ANY SECURITIES, NOR SHALL THERE BE ANY SALE OF SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION OF SUCH SECURITIES UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.

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THIS ANNOUNCEMENT AND ANY OFFER OF SECURITIES TO WHICH IT RELATES ARE ONLY ADDRESSED TO AND DIRECTED AT PERSONS WHO ARE (1) QUALIFIED INVESTORS WITHIN THE PROSPECTUS DIRECTIVE AND (2) WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS WHO FALL WITHIN ARTICLE 19(1) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (THE “ORDER”) OR ARE PERSONS FALLING WITHIN ARTICLE 49(2)(A) TO (D) (“HIGH NET WORTH COMPANIES, UNINCORPORATED ASSOCIATIONS, ETC”) OF THE ORDER OR ARE PERSONS TO WHOM AN OFFER OF THE SECURITIES REFERRED HEREIN MAY OTHERWISE LAWFULLY BE MADE (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS “RELEVANT PERSONS”). THE INFORMATION REGARDING THE TRANSACTION SET OUT IN THIS ANNOUNCEMENT MUST NOT BE ACTED ON OR RELIED ON BY PERSONS WHO ARE NOT RELEVANT PERSONS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT RELATES IS AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE ENGAGED IN ONLY WITH RELEVANT PERSONS.

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NO DISTRIBUTION OF THE SECURITIES, AND NO OFFERING OR PUBLICITY OF MATERIALS RELATING TO THE SECURITIES IS INTENDED IN TURKEY ABSENT A REGISTRATION OF THE SECURITIES AS A PUBLIC OFFERING WITH THE TURKISH CAPITAL MARKETS BOARD.

ANY INVESTMENT DECISION TO BUY SECURITIES IN THE TRANSACTION MUST BE MADE SOLELY ON THE BASIS OF PUBLICLY AVAILABLE INFORMATION WHICH HAS NOT BEEN INDEPENDENTLY VERIFIED BY GOLDMAN SACHS INTERNATIONAL (THE “LEAD MANAGER”) OR ARCELORMITTAL. NEITHER THIS ANNOUNCEMENT NOR ANY COPY OF IT MAY BE TAKEN, TRANSMITTED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR INTO ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES, CANADIAN, AUSTRALIAN, JAPANESE OR OTHER APPLICABLE SECURITIES LAWS.

THE DISTRIBUTION OF THIS ANNOUNCEMENT AND THE OFFERING OR SALE OF THE SECURITIES REFERRED TO HEREIN IN CERTAIN JURISDICTIONS MAY BE RESTRICTED BY LAW. NO ACTION HAS BEEN TAKEN BY THE LEAD MANAGER, ARCELORMITTAL OR ANY OF THEIR RESPECTIVE AFFILIATES, OR ANY OTHER PERSON THAT WOULD PERMIT AN OFFER OF THE SECURITIES REFERRED TO HEREIN OR POSSESSION OR DISTRIBUTION OF THIS ANNOUNCEMENT OR ANY OTHER OFFERING OR PUBLICITY MATERIAL RELATING TO THE SECURITIES REFERRED TO HEREIN IN ANY JURISDICTION WHERE ACTION FOR THAT PURPOSE IS REQUIRED. PERSONS INTO WHOSE POSSESSION THIS ANNOUNCEMENT COMES ARE REQUIRED BY THE LEAD MANAGER TO INFORM THEMSELVES ABOUT AND TO OBSERVE ANY SUCH RESTRICTIONS.

THE LEAD MANAGER IS ACTING EXCLUSIVELY FOR ARCELORMITTALAND NO ONE ELSE IN CONNECTION WITH THE TRANSACTION. THE LEAD MANAGER WILL NOT REGARD ANY OTHER PERSON (WHETHER OR NOT A RECIPIENT OF THIS DOCUMENT) AS ITS CLIENT IN RELATION TO THE TRANSACTION AND THE LEAD MANAGER WILL NOT BE RESPONSIBLE TO ANYONE OTHER THAN ARCELOR MITTAL FOR PROVIDING THE PROTECTIONS AFFORDED TO ITS CLIENTS NOR FOR GIVING ADVICE IN RELATION TO THE TRANSACTION OR ANY OFFERING, ARRANGEMENT OR OTHER MATTER REFERRED TO IN THIS ANNOUNCEMENT. THE LEAD MANAGER MAY PARTICIPATE IN THE TRANSACTION ON A PROPRIETARY BASIS.

The following pages contain information relating to securities offered and sold by ArcelorMittal. The information contained in the following pages is for informational purposes only and does not constitute an offer of securities for sale in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or with any securities regulatory authority of any state or other jurisdiction in the United States. Accordingly, the securities may only be offered and sold in transactions that are exempt from registration under the Securities Act and in compliance with any applicable state securities laws.

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Contact information ArcelorMittal Investor Relations
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