core sector communique

ArcelorMittal announces the publication of Q211 and Q311 EBITDA sell-side analyst consensus figures

Luxembourg, 22 July 2011 - ArcelorMittal today announces the publication of the Q211 and Q311 EBITDA consensus figures. The consensus figures are based on sell-side analyst estimates recorded on an external web based tool provided and managed by an independent company called Vuma Financial Services Limited (trade name: Vuma Consensus).

To arrive at the consensus figures VUMA have aggregated the expectations of sell side analysts who cover ArcelorMittal on a continuous basis. Approximately 30 brokers have been consulted who follow ArcelorMittal on their own initiative.

The consensus estimates ArcelorMittal provides have been compiled by Vuma Consensus. ArcelorMittal is neither involved in the collection of the information nor in the compilation of the estimates.

EBITDA consensus estimates

 EBITDA $M

Broker participation	Consensus Average	High	Low
Q211E	18	3,314	3,414	3,112
Q311E	14	2,603	2,876	2,323

ArcelorMittal does not express any opinion as to the accuracy or relevance of this consensus estimate or any component thereof. Any use of or reliance on this data is purely for the risk of the user.

The consensus data is based on projections made by sell-side analysts. The sell-side analysts who cover ArcelorMittal and whose estimates are included in the group consensus outlined above are the following:

• Banesto Bolsa - Robert Jackson;
• Bank of America Merrill Lynch - Cedar Barnes;
• BBVA - Luis de Toledo;
• Berenberg Bank - John Klein;
• BHF Bank - Hermann Reith;
• Caja Madrid- Iñigo Recio;
• Cheuvreux - Alexander Haissl;
• Citigroup - Anindya, Mohinta;
• Commerzbank, Ingo Schachel;
• Credit Suisse, Michael Shillaker;
• Dahlman Rose & Co. , Anthony Rizzuto Jr.;
• Deutsche Bank - David Martin, Bastian Synagowitz;
• Exane BNP Paribas - Sylvain Brunet, Lux Pez;
• Goldman Sachs International - Kartik Swaminathan;
• HSBC - Thorsten Zimmermann;
• ING - Filip De Pauw;
• JP Morgan - Alessandro Abate, Ben Defay, Michael Gambardella;
• Kempen & Co - Sander Van Oort, Erwin Dut;
• Kepler Capital Markets - Rochus Brauneiser;
• Longbow Research - Luke Folta;
• Morgan Stanley - Ephrem Ravi;
• Natixis - Raoudha Bouzekri;
• Nomura - Neil Sampat;
• Oddo Securities - Aurélien Bonneviot;
• Oppenheim Research - Peter Metzger, Ulrich Scholz;
• Petercam - Alan Vandenberghe;
• RBS - Nick Hatch;
• Rabo Securities - Frank Claassen;
• Societe Generale - Alain William;
• UniCredit - Christian Obst.

Disclaimer

The consensus estimate is based on estimates, forecasts and predictions made by third party financial analysts. It is not prepared or checked by ArcelorMittal and can only be seen as a consensus view on ArcelorMittal's results from an outside perspective. ArcelorMittal has not provided input on these forecasts, except by referring to past publicly disclosed information. ArcelorMittal does not accept any responsibility for the quality or accuracy of any individual forecast or estimate. This document may contain forward-looking statements based on current assumptions and forecasts made by ArcelorMittal or third parties. Various known and unknown risks, uncertainties and other factors could lead to material differences between ArcelorMittal's actual future results, financial situation, development or performance, and the estimates given here.  "

About ArcelorMittal

ArcelorMittal is the world's leading integrated steel and mining company, with presence 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 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.

In 2010, ArcelorMittal had revenues of $78.0 billion and crude steel production of 90.6 million tonnes, representing approximately 6 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).