core sector communique

ArcelorMittal buys 61.7 million call options on its own shares and sells 26.48 million treasury shares

Following the reopening of its share buy-back program as announced on 26 November 2010, ArcelorMittal acquired on 14 December 2010 euro-denominated call options on 61,728,395 of its own shares with a strike price of EUR 20.25 per share.

The 61.7 million of call options acquired allow ArcelorMittal to hedge its obligations arising primarily out of the potential conversion of the 7.25% bonds convertible into and/or exchangeable for new or existing ArcelorMittal shares due 1 April 2014 (ISIN XS0420253212) and secondarily under the share-based employee incentive plans of the group.

On 14 December, ArcelorMittal sold 26.48 million treasury shares through an over-the-counter block trade for a price of EUR 26.4227 per share.

As a result of the transaction, ArcelorMittal strengthens its equity by EUR 699.67 million.

About ArcelorMittal

ArcelorMittal is the world's leading steel company, with operations in more than 60 countries.

ArcelorMittal is the leader in all major global steel markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. With an industrial presence in over 20 countries spanning four continents, the Company covers all of the key steel markets, from emerging to mature.

Through its core values of Sustainability, Quality and Leadership, ArcelorMittal commits to operating in a responsible way with respect to the health, safety and wellbeing of its employees, contractors and the communities in which it operates. It is also committed to the sustainable management of the environment and of finite resources. ArcelorMittal recognises that it has a significant responsibility to tackle the global climate change challenge; 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.

In 2009, ArcelorMittal had revenues of $65.1 billion and crude steel production of 73.2 million tonnes, representing approximately 8 per cent of world steel output.

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