2Q107 highlights:

Strong results above guidance
Q107 EBITDA of $4.3 billion – higher than guidance due to accelerated synergy generation
$2.7 billion cash provided by operating activities in Q107 and strong net debt reduction in Q107 of $1.7 billion over Q406
Integration going well - on track to deliver synergies as planned – synergies of $573 million captured
Q107 Highlights (on the basis of IFRS, amounts US$ and Euros1):

(US dollars in millions except earnings per share and shipments data)
Results US Dollars
Q1 2007 Actual Q4 2006
Pro forma Q1 2006 Pro forma

Shipments (Million MT)2 27.0 26.7 27.9
Sales 24,476 23,203 20,874
EBITDA3 4,346 4,118 3,300
Operating income 3,455 3,243 2,504
Net income 2,250 2,371 1,603
Basic earnings per share $1.62 $1.71 $1.16

(Euros in millions except earnings per share and shipments data
Results Euros 1
Q1 2007 Actual Q4 2006
Pro forma Q1 2006 Pro forma

Shipments (Million MT)2 27.0 26.7 27.9
Sales 18,675 17,997 17,357
EBITDA3 3,316 3,194 2,744
Operating income 2,636 2,515 2,082
Net income 1,717 1,839 1,333
Basic earnings per share €1.24 €1.33 €0.96

1 US dollars have been translated into Euros using an average exchange rate (US$/Euro) of 1.3106, 1.2893 and 1.2026 for Q1 2007, Q4 2006 and Q1 2006, respectively.
2 Some inter-company shipments are not eliminated.
3 EBITDA is defined as operating income plus depreciation.

Inter-company transactions have been eliminated in consolidation. The financial information in this press release and Appendix 1 has been prepared based on International Financial Reporting Standards as endorsed by the European Union (“IFRS”). While the financial information included in this announcement has been prepared in accordance with IFRS applicable to interim periods, this announcement does not contain sufficient information to constitute an interim financial report as defined in IAS 34, Interim Financial Reporting. Unless otherwise noted the numbers in this press release have not been audited.

Commenting, Lakshmi N. Mittal, President and CEO, Arcelor Mittal, said:

“Arcelor Mittal has delivered a strong set of numbers for the first quarter with EBITDA of US$4.3 billion, higher than guidance. These results reflect the strength of Arcelor Mittal’s global business model and the continuing strong demand for steel generally. The benefits of combining Arcelor and Mittal Steel continue to outperform our expectations and we are on track to deliver synergies as planned.

Looking forward, we expect EBITDA in the second quarter to be higher than in the first, largely due to improved performance in Flat Carbon Americas, Long Carbon and AACIS. Our unique geographic and product diversification ideally positions us to continue to deliver consistent results against the current positive underlying dynamics.”