ArcelorMittal announces signature of mandate with a bank in connection with its share buy back program

Tuesday, Jul 01, 2008

Luxembourg, 1 July 2008 - Further to ArcelorMittal's 44 million share buy-back program, as announced on 12 December and on 18 December 2007 and pursuant to the Annual General Shareholders Meeting (AGM) of 13 May 2008 authorizing a share buyback program, ArcelorMittal announces that Frecolux, a Luxembourg subsidiary of ArcelorMittal, has given a mandate on 27 June 2008 to EXANE BNP Paribas. The terms of this mandate are within the limits of the authorization given at the AGM and set out in an ArcelorMittal press release on 13 May 2008.

Purchases will be effected on Euronext Paris and off market and may be extended to other markets.

This share buy-back mandate is expected to commence on 2 July 2008 and shall end at the earliest of 31 August 2008 or the moment on which the number shares acquired by EXANE BNP Paribas since the start of this mandate attains 10 million shares, unless the mandate has been terminated by ArcelorMittal prior to such date.

In connection with the above-mentioned share buy back program, ArcelorMittal had, as of the close of business on 27 June 2008, repurchased a total of 22.7 million shares at an average price of euro 50.69 per share. This number includes 440,372 shares repurchased by ArcelorMittal between 23 and 27 June 2008 at an average price of EUR 62.5494 per share, and for a total cost of euro27,544,989.

Notice to Investors
The share buy-back program does not constitute an offer to purchase or a solicitation of an offer to purchase any securities, or an invitation by or on behalf of ArcelorMittal to purchase any such securities in circumstances or in any jurisdiction in which such an offer or solicitation is unlawful.

The share buy-back program is not intended to constitute a tender offer by or on behalf of ArcelorMittal for its own shares. ArcelorMittal has taken no steps to allow for a tender offer for its shares in any jurisdiction.
This document may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such a jurisdiction.

About ArcelorMittal

ArcelorMittal is the world's largest integrated metals and mining company, with over 310,000 employees in more than 60 countries.

ArcelorMittal is the leader in all major global 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. An industrial presence in over 20 countries across 4 continents exposes the company to all the key steel markets, from emerging to mature.

ArcelorMittal key financials for 2007 show revenues of USD 105.2 billion, with a crude steel production of 116 million tonnes, representing around 10 per cent of world steel output.

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

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

Source: ArcelorMittal