POLITICS

ArcelorMittal's cautionary announcement on ZEE deal

Company says its consideration of matters relating to deal is still ongoing

ARCELORMITTAL SOUTH AFRICA LIMITED

(Incorporated in the Republic of South Africa)

(Registration Number 1989/002164/06)

ARCELORMITTAL SOUTH AFRICA BEE TRANSACTION ("AMSA BEE TRANSACTION"): RENEWAL OF CAUTIONARY ANNOUNCEMENT

Shareholders of ArcelorMittal South Africa ("Shareholders") are referred to the announcement released on SENS on 10 August 2010 and published in the South African press on 11 August 2010, informing Shareholders that ArcelorMittal South Africa has entered into a Subscription and Shareholders` Agreement, to give effect to the AMSA BEE Transaction; and to the renewal of cautionary announcement released on SENS on 30 August 2010 and published in the press on 31 August 2010.

ArcelorMittal South Africa`s consideration of matters relevant to the AMSA BEE Transaction is ongoing, and satisfaction of the conditions precedent remain outstanding.

A further announcement advising the expected date for disclosure of the pro forma financial effects of the AMSA BEE Transaction and containing an amended timetable for the related circular process, will be made in due course.

Accordingly, Shareholders are advised to continue exercising caution when dealing in ArcelorMittal South Africa securities, until such further announcement is made.

Further cautionary announcement

Shareholders are referred to the previous announcement from the company relating to Sishen Iron Ore Company (Proprietary) Limited ("SIOC), released on 22 July 2010 where it was announced that an interim pricing arrangement has been reached between SIOC and AMSA in respect of the supply of iron ore to AMSA from the Sishen Mine and the announcement released on 30 August 2010 when the cautionary was renewed.

Shareholders are advised that an arbitration process is continuing. The parties are in the process of appointing the third arbitrator.

Accordingly shareholders are advised to continue to exercise caution when dealing in the company`s securities until a further announcement is made.

Vanderbijlpark

Thursday 21 October 2010

Statements issued by the JSE SENS service, October 21 2010

Click here to sign up to receive our free daily headline email newsletter