December 03, 2008

ArcelorMittal announces results of delisting of Inox Brasil

ArcelorMittal announced the results of the auction held Friday, April 4, 2008, on the São Paulo Stock Exchange in connection with the delisting offer to acquire all of the remaining outstanding shares of ArcelorMittal Inox Brasil SA that are not yet owned by ArcelorMittal or any of its affiliates as described in the Notice of Public Tender Offer for Acquisition of Common and Preferred Shares issued by ArcelorMittal Inox Brasil SA registered with the CVM.

It said that “As of the close of the auction, in the aggregate, 1,008,306 common shares and 28,954,035 preferred shares of ArcelorMittal Inox Brasil were tendered, representing 40.32% of the total share capital and 94.77% of the free float of ArcelorMittal Inox Brasil. Following the auction on April 4th 2008, an additional 97 common shares and 11,459 preferred shares of ArcelorMittal Inox Brasil were acquired by ArcelorMittal. With these additional purchases, the total number of shares acquired represents 40.33% of the total share capital and 94.81% of the free float of ArcelorMittal Inox Brasil.”

It added that “As a result of the acceptance of the Offer by shareholders representing more than two thirds of the shares qualified for the auction and in accordance with the regulations of the Brazilian Securities and Exchange Commission, ArcelorMittal Inox Brasil's registration as a public company will be cancelled. As required by Brazilian regulations, from April 7th 2008 to July 4th 2008, any holder of shares willing to sell his/her shares to ArcelorMittal at the Offer price may do so by presenting a request to that effect. The price will be adjusted by the Referential Rate, starting on the settlement date of the Offer to the date of effective payment. The purchase price for shares sold pursuant to this process will be payable within 15 days of the date of the request of the shareholder to sell the shares.”