ArcelorMittal Enters Egyptian Market

Regulatory News:

ArcelorMittal today announces that it has been awarded a license from the Industrial Development Authority (IDA) of Egypts Ministry of Trade and Industry to construct a steel plant in Egypt.

The license was auctioned in a competitive bidding process and ArcelorMittals winning bid was L.E. 340 million (approximately USD 60 million).

Under the terms of the license, the plant will produce 1.6 million tons of steel using DRI technology, and 1.4 million tons of billets through the Electric Arc Furnace Route.

Construction of the plant, which will be located close to the Northern Red Sea Coast, is expected to start in 2009.

Aditya Mittal, CFO and Member of the ArcelorMittal Group Management Board, commented: We are pleased to have been successful in this auction. This forms part of our three-dimensional growth strategy to look for opportunities to expand our business in the three key areas of geography, product and value chain. The Middle East is a growth market for the steel industry and it makes sense for ArcelorMittal to expand its presence in the region."

About ArcelorMittal

ArcelorMittal is the world's number one steel company, with 320,000 employees in more than 60 countries. The company brings together the world's number one and number two steel companies, Arcelor and Mittal Steel.

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 27 European, Asian, African and American countries exposes the company to all the key steel markets, from emerging to mature, positions it will be looking to develop in the high-growth Chinese and Indian markets.

ArcelorMittal key pro forma financials for 2006 show combined revenues of USD 88.6 billion, with a crude steel production of 118 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).

Contacts:

ArcelorMittal Investor Relations
Europe, +352 4792 2414
Americas, +1 312 899 3569
Retail, +352 4792 2434
SRI, +44 203 214 2854
Bonds/Credit, +33 1 71 92 10 26
or
ArcelorMittal Communications
E-mail: press@arcelormittal.com
Phone: +352 4792 5000
or
ArcelorMittal Corporate Communications
Nicola Davidson, +44 207 543 1162 / 1172
Jean Lasar, +352 4792 2359
or
Maitland Consultancy:
Lydia Pretzlik / Martin Leeburn, + 44 20 7379 5151
or
Belgium
Charles-Hubert Gernaert, Comfi, +32 2 290 90 90
or
North America
Bill Steers, +1 312 899 3817
or
Netherlands
Leon Melens, Smink, Van der Ploeg & Jongsma,
+31 20 647 81 81
or
Germany
Phoebe Kebbel, Herring Schuppener,
+49 69 92 18 74 77
or
France
Sandra Luneau, +33 1 71 92 00 58
Image 7 - Anne France Malrieu /
Tiphaine Hecketsweiler, +33 1 5370 7470
or
Spain
Ignacio Agreda, +34 94 489 4162
Oscar Fleites, +34 98 512 60 29
Keith Grant, +34 639 760 397

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