ArcelorMittal S.A. : ArcelorMittal to record non-cash impairment charge in Q4 2012

ArcelorMittal S.A. : ArcelorMittal to record non-cash impairment charge in Q4

ArcelorMittal to record non-cash impairment charge in Q4 2012

Luxembourg, 21 December  2012 -  ArcelorMittal today announced  it expects  to 
write down the goodwill in its European businesses by approximately  US$4.3bn. 
This follows  the  completion  of  its yearly  goodwill  impairment  test,  as 
required by IFRS accounting standards.

The write down will take the form of a non-cash impairment charge that will be
recorded in the  fourth quarter of  2012. The  impairment is due  to a  weaker 
macro economic and market  environment in Europe  where apparent steel  demand 
has fallen  by approximately  8%  this year,  bringing the  cumulative  demand 
decline to approximately 29% since 2007. This weaker demand environment,  and 
expectations that it  will persist over  the near  and medium term,  led to  a 
downward revision of cash  flow expectations underlying  the valuation of  the 
European businesses to which goodwill has been allocated. This is in  contrast 
to the US, where apparent steel consumption  is up almost 8% this year and  is 
now approximately 10% lower than it was in 2007.

Key metrics such  as net  debt and  ebitda, as  well as  compliance with  debt 
covenants, are unaffected by this impairment.

About ArcelorMittal

ArcelorMittal is the world's leading steel and mining company, with a presence
in more than 60 countries.

ArcelorMittal is  the  leader  in  all  major  global  carbon  steel  markets, 
including automotive, construction, household  appliances and packaging,  with 
leading R&D and technology. The Group  also has a world class mining  business 
with a global portfolio of over 20 mines in operation and development, and  is 
the world's  4th  largest  iron  ore producer.  With  operations  in  over  22 
countries spanning  four  continents,  the  Company  covers  all  of  the  key 
industrial markets, from emerging to mature, and has outstanding  distribution 

Through  its   core  values   of  sustainability,   quality  and   leadership, 
ArcelorMittal commits to operating  in a responsible way  with respect to  the 
health,  safety  and  well-being  of   its  employees,  contractors  and   the 
communities in which  it operates.  It is  also committed  to the  sustainable 
management of  the environment.  It takes  a leading  role in  the  industry's 
efforts to  develop  breakthrough  steelmaking technologies  and  is  actively 
researching  and  developing  steel-based  technologies  and  solutions   that 
contribute to  combat  climate  change.  ArcelorMittal  is  a  member  of  the 
FTSE4Good Index and the Dow Jones Sustainability World Index.

In  2011,  ArcelorMittal  had  revenues  of  $94.0  billion  and  crude  steel 
production of 91.9 million  tonnes, representing approximately  6 per cent  of 
world steel output. The Group's  mining operations produced 54 million  tonnes 
of iron ore and 8 million tonnes of metallurgical coal.

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

For more information about ArcelorMittal visit:

Contact information ArcelorMittal Investor Relations
Europe + 352  4792 2484
Americas           + 1 312 899 3569
Retail            + 44203214 3198
SRI + 44 207 543 1128  
Bonds/Credit + 33 171 92 10 26
Contact information ArcelorMittal Corporate Communications
Phone: +352 4792 5000
ArcelorMittal Corporate Communications
Giles Read (Head of Media Relations)      + 44 20 3214 2845
Tobin Postma                         + 44 20 3214

United Kingdom
Maitland Consultancy:
Martin Leeburn                        + 44 20 7379 5151

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Sylvie Dumaine / Anne-Charlotte Creach    + 33 1 5370 7470


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Source: ArcelorMittal S.A. via Thomson Reuters ONE
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