ArcelorMittal S.A.: ARCELORMITTAL REPORTS THIRD QUARTER 2013 AND NINE-MONTHS 2013 RESULTS

 ArcelorMittal S.A.: ARCELORMITTAL REPORTS THIRD QUARTER 2013 AND NINE-MONTHS
                                 2013 RESULTS

Luxembourg, November 7, 2013 -  ArcelorMittal (referred to as  "ArcelorMittal" 
or the "Company") (MT (New York, Amsterdam, Paris, Luxembourg), MTS (Madrid)),
the world's leading steel  company, today announced  results[1] for the  three 
and nine month periods ended September 30, 2013.

Highlights[2]:

  *Health and safety performance improved in 3Q 2013 with a LTIF rate[3] of
    0.8x as compared to 0.9x in 2Q 2013
  *EBITDA[4] of $1.7 billion in 3Q 2013, 24% higher than underlying EBITDA in
    3Q 2012[5]
  *Steel shipments of 21.1 Mt in 3Q 2013, an increase of 6% as compared to 3Q
    2012
  *3Q 2013 own iron ore production of 14.9 Mt, up 4.5% YoY; 9.4 Mt shipped
    and reported at market price[6], up 32% YoY
  *As anticipated, net debt[7] increased from $16.2 billion as of June 30,
    2013 to $17.8 billion as of September 30, 2013, largely driven by
    investment in operating working capital ($0.8 billion) and dividends paid
    ($0.4 billion)
  *Net interest expense reduced by $62 million (13%) in 3Q 2013 as compared
    to 2Q 2013 primarily due to lower gross debt
  *$0.8 billion annualized management gains achieved during 9M 2013, in line
    with plan to achieve $3 billion of cost improvement by the end of 2015
  *The ramp-up of expanded capacity at AMMC remains on track to achieve a
    run-rate of 24 Mt by year-end 2013

Key strategic developments:

  *Resolution of long-term Kumba dispute: Sishen iron ore supply agreement
    secured on cost-plus terms
  *Investment plan to double capacity at ArcelorMittal Annaba following stake
    dilution to 49% (from 70%)[7]
  *Selective steel capital expenditure projects restarted to support
    development of franchise businesses

Outlook and guidance:

  *In line with our guidance framework, underlying profitability is still
    expected to improve in 2013, driven by three factors: a) a 1-2% increase
    in steel shipments; b) an approximate 20% increase in marketable iron ore
    shipments; and c) the benefits realized from Asset Optimization and
    Management Gains initiatives
  *The Company still expects 2013 EBITDA to be greater than $6.5 billion
  *Due to improved operating cash flows and proceeds from already announced
    disposals[8], net debt is expected to decrease in 4Q 2013 to approximately
    $17 billion; the $15 billion medium term net debt target is unchanged
  *2013 capital expenditure is still expected to be approximately $3.7
    billion

Financial highlights (on the basis of IFRS[1], amounts in USD):

                                 Quarterly comparison  Year-to-date comparison
(USDm) unless otherwise shown    3Q 13  2Q 13 3Q 12[2]       9M 13    9M 12[2]
Sales                           19,643 20,197   19,723      59,592      64,904
EBITDA                           1,713  1,700    1,445       4,978       6,122
Operating income                   477    352       55       1,233       2,066
Net income / (loss)              (193)  (780)    (652)     (1,318)         456
Basic earnings / (loss) per     (0.12) (0.44)   (0.42)      (0.77)        0.29
share (USD)
Own iron ore production (Mt)      14.9   15.0     14.3        43.0        41.9
Iron ore shipments at market       9.4    8.2      7.1        24.9        22.1
price (Mt)
Crude steel production (Mt)       23.3   22.5     21.9        68.2        67.4
Steel shipments (Mt)              21.1   21.3     19.9        63.4        63.8
EBITDA/tonne (USD/t)[9]             81     80       73          79          96

Commenting, Mr. Lakshmi N. Mittal, ArcelorMittal Chairman and CEO, said:

"After a  weak first  half, we  have seen  third quarter  performance  improve 
year-on-year, positively impacted  by our  cost optimisation  efforts and  the 
increased shipments from our mining expansion. We believe that the bottom  of 
the cycle  is behind  us and  expect second  half EBITDA,  usually  comparably 
weaker, to be  at least  equal to  the first.  Although operating  conditions 
remain challenging, as  economic indicators  are improving  we are  cautiously 
optimistic about the prospects for 2014."

THIRD QUARTER 2013 EARNINGS ANALYST CONFERENCE CALL

ArcelorMittal management  will  host a  conference  call for  members  of  the 
investment community to discuss  the third quarter  2013 and nine-months  2013 
financial performance at:

         Date           US Eastern time        London             CET
       Thursday             9.30am            2.30pm          3.30pm
   November7,2013
The dial in numbers:
       Location        Toll free dial in    Local dial in    Participant
                            numbers            numbers
      UK local:          08001693059   +44(0)2079700006    707791#
      USA local:        1800 814 6417    +1 215 599 1757      707791#
       France:            0800917772       +33 170707578       707791#
       Germany:          08009646526      +49 6940359700       707791#
        Spain:            900994921       +34 914140992       707791#
     Luxembourg:           80024686        +352 24871048       707791#
A replay of the conference call will be available for one week by dialing:
                           Language          Access code
+49(0)18052043089       English            445234#

The conference call  will include  a brief  question and  answer session  with 
senior management. The presentation will be available via a live video webcast
on www.arcelormittal.com.

FORWARD-LOOKING STATEMENTS

This document  may contain  forward-looking information  and statements  about 
ArcelorMittal  and  its  subsidiaries.  These  statements  include   financial 
projections  and  estimates  and  their  underlying  assumptions,   statements 
regarding  plans,  objectives   and  expectations  with   respect  to   future 
operations,  products   and   services,  and   statements   regarding   future 
performance.  Forward-looking  statements  may  be  identified  by  the  words 
"believe," "expect," "anticipate," "target"  or similar expressions.  Although 
ArcelorMittal's management believes  that the expectations  reflected in  such 
forward-looking  statements   are  reasonable,   investors  and   holders   of 
ArcelorMittal's securities are cautioned that forward-looking information  and 
statements are subject to numerous risks and uncertainties, many of which  are 
difficult to predict and generally  beyond the control of ArcelorMittal,  that 
could cause actual results and developments to differ materially and adversely
from those  expressed in,  or  implied or  projected by,  the  forward-looking 
information and  statements.  These  risks  and  uncertainties  include  those 
discussed or  identified  in the  filings  with the  Luxembourg  Stock  Market 
Authority for the  Financial Markets  (Commission de  Surveillance du  Secteur 
Financier) and  the  United States  Securities  and Exchange  Commission  (the 
"SEC") made or to be  made by ArcelorMittal, including ArcelorMittal's  Annual 
Report on Form 20-F for the year  ended December 31, 2012 filed with the  SEC. 
ArcelorMittal undertakes no obligation to publicly update its  forward-looking 
statements, whether  as  a  result  of  new  information,  future  events,  or 
otherwise.

ABOUT ARCELORMITTAL

ArcelorMittal is the world's leading steel and mining company, with a presence
in more than 60  countries and an industrial  footprint in over 20  countries. 
Guided by a philosophy to produce safe, sustainable steel, we are the  leading 
supplier of  quality  steel  in  the  major  global  steel  markets  including 
automotive, construction, household appliances and packaging, with world-class
research and development and outstanding distribution networks.

Through our core values of sustainability, quality and leadership, we  operate 
responsibly with respect to the health, safety and wellbeing of our employees,
contractors and the communities in which we operate.

For us, steel is the fabric of life, as it is at the heart of the modern world
from railways to cars  and washing machines. We  are actively researching  and 
producing steel-based  technologies  and  solutions  that  make  many  of  the 
products and components we use in our everyday lives more energy-efficient.

We are one of the world's five largest producers of iron ore and metallurgical
coal and our mining business is an essential part of our growth strategy. With
a geographically diversified  portfolio of iron  ore and coal  assets, we  are 
strategically positioned to serve our network of steel plants and the external
global market. While our steel operations are important customers, our  supply 
to the external market is increasing as we grow.

In  2012,  ArcelorMittal  had  revenues  of  $84.2  billion  and  crude  steel 
production of  88.2 million  tonnes, while  iron ore  production reached  55.9 
million tonnes.

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 please visit: www.arcelormittal.com.

ENQUIRIES

Contact information ArcelorMittal Investor Relations
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Retail                                                   Tel: +352 4792 3198
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                                                                       E-mail:
ArcelorMittal Corporate Communications                 press@arcelormittal.com
                                                           Tel: +352 4792 5000
Sophie Evans                                             Tel: +44 203 214 2882
Laura Nutt                                               Tel: +44 207 543 1125
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United Kingdom  MaitlandConsultancy:MartinLeeburn     Tel: +44 20 7379 5151

ARCELORMITTAL THIRD QUARTER 2013 AND NINE-MONTHS 2013 RESULTS

ArcelorMittal, the world's leading steel  and mining company, today  announces 
results for the three month and nine month periods ended September 30, 2013.

Corporate responsibility and safety performance

Health and safety - Own personnel and contractors lost time injury frequency
rate[3]

Health and safety performance, based on own personnel figures and  contractors 
lost time  injury frequency  ("LTIF")  rate, improved  to  0.8x in  the  third 
quarter of 2013 ("3Q 2013") as compared to 0.9x for the second quarter of 2013
("2Q 2013") and  1.0x for the  third quarter  of 2012 ("3Q  2012"). During  3Q 
2013, improvements,  particularly  in  the  Mining  segment,  were  offset  by 
deterioration in the Flat Carbon Americas segment.

Health and safety  performance improved to  0.9x in the  first nine months  of 
2013 ("9M 2013") as compared  to 1.0x for the first  nine months of 2012  ("9M 
2012"), with improvements across the majority of segments.

Despite this encouraging performance in LTIF rate, there is still more work to
be done. The Company's efforts to improve the group's Health and Safety record
will continue.  While the  LTIF target  of 1.0x  is maintained  for 2013,  the 
Company is  focused  on further  reducing  the  rate of  severe  injuries  and 
fatality prevention.

Own personnel and contractors - Frequency
Rate
Lost time injury frequency rate             3Q13 2Q13 3Q12 9M13 9M12
Total Mines                                    0.4    0.6    0.7    0.6    0.8
Lost time injury frequency rate              3Q 13  2Q 13  3Q 12  9M 13  9M 12
Flat Carbon Americas                           1.1    0.7    0.9    0.9    1.0
Flat Carbon Europe                             1.0    1.1    1.4    1.0    1.4
Long Carbon Americas and Europe                0.8    0.9    1.2    1.0    1.0
Asia Africa and CIS                            0.6    0.6    0.5    0.6    0.5
Distribution Solutions                         1.3    1.4    1.2    1.2    1.5
Total Steel                                    0.9    0.9    1.0    0.9    1.0
Lost time injury frequency rate              3Q 13  2Q 13  3Q 12  9M 13  9M 12
Total (Steel and Mines)                        0.8    0.9    1.0    0.9    1.0

Key corporate responsibility highlights for 3Q 2013

  *ArcelorMittal has maintained its membership in the Dow Jones
    Sustainability Index Europe.

  *ArcelorMittal is featured in the United Nations Global Compact (UNGC)
    publication called Responsible Business Advancing Peace, released on
    September 20, 2013 at the UNGC Leaders' Summit in New York. In a dedicated
    case study, the publication highlights ArcelorMittal Liberia's good
    practice in the area of stakeholder engagement and on how significant
    improvements were achieved in only a few years.

  *At the recent health and safety session of the World Steel Association
    (WSA) gathering, it was mentioned that across the WSA members, 114 out of
    176 sites having a lost time injury frequency rate of less than 1, belong
    to ArcelorMittal.

Analysis of  results for  the  nine months  ended  September 30,  2013  versus 
results for the nine months ended September 30, 2012

ArcelorMittal's net loss  for 9M 2013  was $1.3 billion,  or $(0.77) loss  per 
share, as compared to net  income for 9M 2012 of  $0.5 billion, or $0.29  per 
share.

Total steel shipments for 9M 2013 were essentially flat at 63.4 million metric
tonnes as compared with 63.8 million metric tonnes in 9M 2012.

Sales for 9M 2013 decreased  by 8.2% to $59.6  billion as compared with  $64.9 
billion for  9M 2012  primarily  due to  lower  average steel  selling  prices 
(-5.9%).

Depreciation of $3.4 billion for 9M 2013 was comparable to $3.5 billion in  9M 
2012.

Impairment charges for 9M 2013 were  $140 million, including $101 million  for 
the costs associated  with the  discontinued iron ore  project in  Senegal[10] 
(Mining) and costs related to the closure of the organic coating and tin plate
lines in  Florange. Impairment  charges  for 9M  2012 totalled  $199  million, 
primarily related to  the project  to permanently  close the  liquid phase  at 
Florange for $130 million (Flat Carbon Europe), and the extended idling of the
electric arc  furnace  and  continuous  caster  at  the  Schifflange  site  in 
Luxembourg (Long Carbon Europe).

Restructuring charges for 9M 2013 were $173 million, including $137 million of
costs incurred  for  the  long  term  idling  of  the  Florange  liquid  phase 
(including voluntary separation scheme costs, site rehabilitation/safeguarding
costs, and take or pay obligations). Restructuring charges for 9M 2012 totaled
$395 million and consisted largely of costs associated with the implementation
of Asset Optimization primarily impacting  Flat Carbon Europe and Long  Carbon 
Europe operations.

Operating income  for 9M  2013 was  $1.2 billion  as compared  with  operating 
income of  $2.1  billion for  9M  2012. Operating  results  for 9M  2013  were 
positively impacted  by a  $47 million  fair valuation  gain relating  to  the 
acquisition of an additional ownership  interest in DJ Galvanizing in  Canada. 
In addition,  operating income  for 9M  2013 was  positively impacted  by  $92 
million related to "Dynamic Delta Hedge" (DDH) income. The DDH income recorded
in 1Q 2013 was the final instalment of such income. This gain on the unwinding
of a currency hedge related to raw materials purchases was initially  recorded 
in equity in 4Q 2008, and has now been fully recorded in the income statement.
Operating results  for 9M  2012 were  positively impacted  by changes  to  the 
employee benefit plans at ArcelorMittal  Dofasco[11] which led to  curtailment 
gains of $285 million and the Skyline  Steel divestment[12] ^ which led to  a 
gain of $339 million,  partially offset by $72  million in charges related  to 
one-time signing bonus and post retirement benefit costs following entry  into 
the new US labor contract. Operating results for 9M 2012 were also  positively 
impacted by $426 million of DDH income.

Income from equity  method investments  and other income  in 9M  2013 was  $11 
million, as compared to income of $47 million in 9M 2012. Income earned during
9M 2013 was negatively impacted by  a contingent consideration related to  the 
Gonvarri Brasil  acquisition  in  2008  and  weaker  performance  of  European 
associates during the year.  Income from equity  method investments and  other 
income for  9M 2012  included higher  income earned  from European  associates 
offset in part by losses from Chinese investees.

Net interest expense (including interest expense and interest income) was $1.4
billion for 9M 2013, comparable to 9M  2012. Net interest expense in 2013  has 
been positively impacted by lower gross  debt due to the tender and  repayment 
of bonds and privately placed notes  totalling $4 billion since the  beginning 
of June 2013, offset in part by interest rate "step up" clauses in most of the
Company's outstanding  bonds, which  were triggered  by the  Company's  rating 
downgrades that occurred  in the  second half of  2012 and  which resulted  in 
interest expense of $65 million in 9M 2013.

Foreign exchange and other net financing  costs[13] were higher in 9M 2013  at 
$954 million as compared to  costs of $632 million  for 9M 2012, primarily  on 
account of foreign exchange losses.

ArcelorMittal recorded an income tax expense  of $191 million for 9M 2013,  as 
compared to an income tax benefit of $350 million for 9M 2012.

Gains attributable to non-controlling interests  for 9M 2013 were $59  million 
as compared with losses attributable to non-controlling interests for 9M  2012 
of $21 million, increasing primarily  in ArcelorMittal Mines Canada after  the 
disposal of 15% interest in 2013.

Analysis of results for 3Q 2013 versus 2Q 2013 and 3Q 2012

ArcelorMittal recorded a net loss for 3Q 2013 of $0.2 billion, or $(0.12) loss
per share, as  compared to a  net loss of  $0.8 billion, or  $(0.44) loss  per 
share for 2Q 2013, and net loss of $0.7 billion,or $(0.42) loss per share, for
3Q 2012.

Total steel shipments for 3Q 2013 were 21.1 million metric tonnes as  compared 
with 21.3 million metric tonnes for 2Q 2013 and 19.9 million metric tonnes for
3Q 2012.

Sales for 3Q 2013 decreased  by 2.7% to $19.6  billion as compared with  $20.2 
billion for 2Q 2013, and were 0.4% lower than $19.7 billion for 3Q 2012. Sales
were lower in 3Q 2013  as compared to 2Q 2013  primarily due to lower  average 
steel selling prices (-3.4%) and marginally lower steel volumes (-0.9%).

Depreciation amounted to $1.1 billion for  3Q 2013, comparable to 2Q 2013  and 
lower than $1.2 billion for 3Q 2012.

Impairment charges  for  3Q  2013  were $101  million  related  to  the  costs 
associated with the discontinued iron  ore project in SenegalError:  Reference 
source not found. Impairment  charges for 2Q 2013  were $39 million  primarily 
related to the closure of the organic coating and tin plate lines in Florange.
Impairment charges for 3Q  2012 totalled $130  million, primarily related  to 
the long term idling of the liquid phase at Florange.

Restructuring charges for 3Q 2013 were nil. Restructuring charges for Q2  2013 
of $173 million including $137  million of costs for  the long term idling  of 
the Florange liquid phase (including  voluntary separation scheme costs,  site 
rehabilitation/safeguarding costs, and take or pay obligations). Restructuring
charges for 3Q  2012 of $98  million consisted primarily  of costs  associated 
with the  closure  of  two  blast  furnaces,  sinter  plant,  steel  shop  and 
continuous casters in Liege (Flat Carbon Europe).

Operating income  for 3Q  2013 was  $477 million  as compared  with  operating 
income of $352 million for 2Q 2013 and operating income of $55 million for  3Q 
2012. Operating results for 3Q 2012  were positively impacted by $131  million 
of DDH income partially offset by a  $72 million charge related to a  one-time 
signing bonus and post retirement benefit costs following entry into a new  US 
labor contract.

Income from equity  method investments  and other income  in 3Q  2013 was  $53 
million as compared to  a loss of  $24 million in  2Q 2013 and  a loss of  $56 
million in  3Q 2012.  During the  third quarter  of 2013,  income from  equity 
method investments and  other income benefitted  from stronger performance  by 
Chinese investees (including the gain on  disposal of 5% stake in Hunan  Valin 
as part of share swap arrangement with Valin Group). Losses incurred during 2Q
2013 related primarily to a contingent consideration from the Gonvarri  Brasil 
acquisition in 2008.

Net interest expense (including  interest expense and  interest income) in  3Q 
2013 was  $409 million,  as compared  to $471  million for  2Q 2013  and  $479 
million for 3Q 2012. Net interest was lower in 3Q 2013 as compared to 2Q 2013,
primarily due to the above-mentioned bond and loan repayments. 

Foreign exchange and other net financing  costs were $269 million for 3Q  2013 
as compared to $530 million for 2Q 2013 and $148 million for 3Q 2012.  Foreign 
exchange and  other net  financing costs  in  3Q 2013  were impacted  by  0.6% 
devaluation of  the  Brazilian Real  versus  USD, leading  to  a loss  of  $10 
million, as compared to a  9% devaluation in the 2Q  2013 which resulted in  a 
$180 million loss.

ArcelorMittal recorded an  income tax benefit  of $5 million  for Q3 2013,  as 
compared to an income tax expense of $99 million for 2Q 2013 and an income tax
expense of $44 million for 3Q 2012.

Gains attributable to non-controlling interests  for 3Q 2013 were $50  million 
as compared with gains of $8 million for 2Q 2013 and losses of $20 million for
3Q 2012.

Capital expenditure projects

The following tables summarize the Company's principal growth and optimization
projects involving significant capital expenditures.

Completed projects in most recent quarters

Segment     Site           Project       Capacity / particulars      Actual
                                                                   completion
        Andrade Mines                       Increase iron ore
Mining    (Brazil)    Andrade expansion   production to 3.5mt /     4Q 2012
                                                  year
        ArcelorMittal  Replacement of       Increase iron ore
Mining  Mines Canada     spirals for      production by 0.8mt /     1Q 2013
                         enrichment               year
        ArcelorMittal                     Increase concentrator
Mining  Mines Canada  Expansion project capacity by 8mt/ year (16 2Q 2013 ^(e)
                                             to 24mt/ year)

Ongoing^(a) projects

Segment       Site             Project            Capacity /       Forecasted
                                                 particulars       completion
                                             Increase production
                          Phase 2 expansion   capacity to 15mt/
Mining    Liberia mines        project          year (iron ore     2015 ^(b)
                                             premium sinter feed
                                                 concentrate)
                            Early revenue    Production capacity
Mining     Baffinland           phase         3.5mt/ year (iron    2015 ^(c)
                                                     ore)
                          Construction of a
                             heavy gauge      Optimize cost and
  FCA     ArcelorMittal   Galvanizing line#6 increase shipment of  2015 ^(f)
        Dofasco (Canada)     to optimise     galvanized products
                             Galvanizing       by 0.3mt / year
                              operations
                                             Increase hot dipped
                                              galvanizing (HDG)
          ArcelorMittal                      capacity by 0.6mt /
  FCA      Vega Do Sul    Expansion project     year and cold       On hold
            (Brazil)                             rolling (CR)
                                             capacity by 0.7mt /
                                                     year
            Monlevade          Wire rod      Increase in capacity
  LCA       (Brazil)          production     of finished products  2015 ^(d)
                              expansion        by 1.1mt / year
                                              Increase in rebar
                                             capacity by 0.4mt /
  LCA     Juiz de Fora    Rebar and meltshop        year;          2015 ^(d)
            (Brazil)          expansion      Increase in meltshop
                                             capacity by 0.2mt /
                                                     year
                                              Increase in liquid
            Monlevade       Sinter plant,    steel capacity by
  LCA       (Brazil)      blast furnace and     1.2mt / year;     On hold ^(d)
                               meltshop      Sinter feed capacity
                                               of 2.3mt / year
                                             Increase in rolling
  LCA       Acindar (      New rolling mill  capacity by 0.4mt /   2016 ^(g)
           Argentina)                         year for bars for
                                              civil construction

Joint Venture projects

Segment      Site         Project      Capacity / particulars     Forecasted
                                                                  completion
                                     Capacity of 1.5mt pickling
                         VAMA auto     line, 0.9mt continuous
 China  Hunan Province steel JV[14]  annealing line and 0.5mt of 2H 2014 ^ (h)
                                     hot dipped galvanizing auto
                                                steel

a) Ongoing projects  refer  to projects  for  which construction  has  begun 
     (excluding various projects  that are  under development),  or have  been 
     placed on hold pending improved operating conditions.
b)   The Company's Board of  Directors has approved the  Phase 2 expansion  of 
     the Liberia  project  that  would  lead to  annual  premium  sinter  feed 
     concentrate production capacity of 15 million tonnes per annum. The first
     sinter feed  concentrate  production is  expected  at the  end  of  2015, 
     replacing the  Phase  1  -  4 million  tonnes  per  annum  direct-shipped 
     operation. Product specification has changed  to a sinter feed which  has 
     resulted in an engineering scope change.
c)   The Company's Board  of Directors  has approved the  Early Revenue  Phase 
     ("ERP") at Baffinland,  which requires less  capital investment than  the 
     full project as originally  proposed. Implementation of  the ERP is  now 
     underway with  a goal  to reach  a  3.5mt per  annum production  rate  by 
     2015.The budget  for the  ERP  is approximately  $700 million  and  will 
     require the upgrading of the road  that connects the port in Milne  Inlet 
     to the mine site  as well as modifications  to existing permits that  are 
     expected to be granted in the first half of 2014.
d)   During 2Q 2013 the Company  restarted its Monlevade expansion project  in 
     Brazil. The project is  expected to be completed  in two phases with  the 
     first phase (investment in which has now been approved) focused mainly on
     downstream facilities and consisting of a new wire rod mill in  Monlevade 
     with additional capacity of  1,050 ktpy of coils  with capex estimate  of 
     $280 million ($140 million outstanding); and Juiz de Fora rebar  capacity 
     increase from 50 to 400ktpy (replacing some wire rod production capacity)
     and meltshop  capacity increase  by  200ktpy. This  part of  the  overall 
     investment is expected  to be finished  in 2015. A  decision whether  to 
     invest in Phase 2 of the project, focusing on the upstream facilities  in 
     Monlevade (sinter plant, blast  furnace and meltshop),  will be taken  at 
     later date.
e)   Final capex  for  the  AMMC  expansion  project  is  $1.6  billion,  with 
     optimization and ramp-up in 2H 2013. The ramp-up of expanded capacity  at 
     AMMC remains on track to hit a run-rate of 24mt by year end 2013.
f)   During 3Q 2013, the Company restarted  the construction of a heavy  gauge 
     galvanizing line #6 (capacity 660ktpy) at Dofasco. On completion of this
     project in  2015, the  older and  smaller galvanizing  line #2  (capacity 
     400ktpy) will  be closed.  The  project is  expected to  benefit  EBITDA 
     through increased shipments of galvanized product (260ktpy), improved mix
     and optimized  costs.The line  #6 will  also incorporate  Advanced  High 
     Strength Steel (AHSS)  capability and  is the  key element  in a  broader 
     program  to  improve  Dofasco's  ability   to  serve  customers  in   the 
     automotive, construction, and industrial markets.
g)   During  3Q,   2013,   Acindar   Industria  Argentina   de   Aceros   S.A. 
     (ArcelorMittal Acindar) announced its intention to invest $100 million in
     a new rolling mill (with production capacity of 400ktpy of rebars from  6 
     to 32mm) in Santa Fe province, Argentina devoted to the manufacturing  of 
     civil construction  products.  The  new rolling  mill  will  also  enable 
     ArcelorMittal Acindar to optimise production  at its special bar  quality 
     (SBQ) rolling mill in Villa Constitución,  which in the future will  only 
     manufacture products  for  the  automotive  and  mining  industries.  The 
     project is expected  to take up  to 24 months  to build, with  operations 
     expected to start in two years.
h)   Valin ArcelorMittal Automotive  Steel ("VAMA"),  a downstream  automotive 
     steel joint venture between ArcelorMittal  and Valin Group, of which  the 
     Company owns 49%,  will produce  steel for high-end  applications in  the 
     automobile industry and  supply international  automakers and  first-tier 
     Chinese car  manufacturers as  well as  their supplier  networks for  the 
     rapidly growing Chinese market. The project involves the construction  of 
     state of the art pickling  line tandem CRM (1.5mt), continuous  annealing 
     line(0.9mt) and  hot  dipped  galvanised  line  (0.5mt).  Total  capital 
     investment is expected to be approximately $850 million (100% basis) with
     the first coil due to be produced in 2H 2014.

Analysis of segment operations

Flat Carbon Americas

(USDm) unless otherwise shown       3Q 13 2Q 13 3Q 12[2]  9M 13 9M 12[2]
Sales                               4,921 4,788    4,840 14,568   15,469
EBITDA                                547   293      326  1,283    1,646
Operating income                      321    61       90    582      951
Crude steel production (Kt)         6,343 5,589    5,726 18,129   17,989
Steel shipments (Kt)                5,759 5,407    5,351 16,725   16,758
Average steel selling price (US$/t)   804   831      850    818      873
EBITDA/tonne (US$/t)                   95    54       61     77       98
Operating income /tonne (US$/t)        56    11       17     35       57

Flat Carbon Americas crude steel production increased by 13.5% to 6.3  million 
tonnes in  3Q 2013  as  compared to  5.6 million  tonnes  in 2Q  2013,  driven 
primarily by a  significant improvement  in Flat USA  following resolution  of 
labor issues at Burns Harbor and operational incidents at Indiana Harbor  East 
and West that impacted output in 2Q 2013.

Steel shipments in 3Q  2013 were 5.8  million tonnes, an  increase of 6.5%  as 
compared to 5.4 million tonnes in 2Q 2013, primarily driven by higher shipment
volumes in North America

Sales in the Flat  Carbon Americas segment  were $4.9 billion  in 3Q 2013,  an 
increase of 2.8% as compared to $4.8 billion in 2Q 2013. The increase in sales
was due to  higher shipments, offset  in part by  lower average steel  selling 
prices (-3.2%), in particular in Mexico and South America (impacted by forex).

EBITDA in 3Q 2013 increased 86.7% to $547 million as compared to $293  million 
in 2Q 2013. EBITDA was positively impacted  in 3Q 2013 by higher volumes  and 
positive price-cost effect, and a  recovery from the operational incidents  in 
Flat Carbon USA as described above.

Flat Carbon Europe

(USDm) unless otherwise shown       3Q 13 2Q 13 3Q 12[2]  9M 13 9M 12[2]
Sales                               6,334 6,903    6,108 20,071   21,050
EBITDA                                193   341      191    834      705
Operating loss                      (174) (198)    (385)  (431)    (820)
Crude steel production (Kt)         7,439 7,481    6,718 22,199   21,043
Steel shipments (Kt)                6,579 7,065    5,837 20,534   20,069
Average steel selling price (US$/t)   803   830      856    821      867
EBITDA/tonne (US$/t)                   29    48       33     41       35
Operating loss /tonne (US$/t)        (26)  (28)     (66)   (21)     (41)

Flat Carbon Europe  crude steel production  decreased by 0.6%  to 7.4  million 
tonnes in 3Q 2013 as compared to 7.5 million tonnes in 2Q 2013. 

Steel shipments in  3Q 2013 were  6.6 million  tonnes, a decrease  of 6.9%  as 
compared to  7.1 million  tonnes in  2Q 2013,  due to  normal seasonal  demand 
patterns.

Sales in the Flat Carbon Europe segment  decreased to $6.3 billion in 3Q  2013 
as compared to $6.9 billion  in 2Q 2013, due  to lower steel shipment  volumes 
and lower average steel selling prices (-3.3%).

EBITDA in 3Q 2013 decreased 43.4% to $193 million as compared to $341  million 
in 2Q 2013. Steel margins were negatively impacted in 3Q 2013 by lower volumes
and to a lesser extent a  negative price-cost effect (mitigated by  management 
and asset optimisation gains).

Long Carbon Americas and Europe

(USDm) unless otherwise shown       3Q 13 2Q 13 3Q 12[2]  9M 13 9M 12[2]
Sales                               5,133 5,420    5,189 15,656   16,650
EBITDA                                463   556      340  1,438    1,363
Operating income                      251   329      113    765      578
Crude steel production (Kt)         5,771 5,742    5,713 17,235   17,383
Steel shipments (Kt)                5,599 5,772    5,508 16,765   17,085
Average steel selling price (US$/t)   820   848      861    842      886
EBITDA/tonne (US$/t)                   83    96       62     86       80
Operating income /tonne (US$/t)        45    57       21     46       34

Long Carbon Americas and  Europe crude steel production  increased by 0.5%  to 
5.8 million tonnes in 3Q 2013, as compared to 5.7 million tonnes in 2Q 2013.

Steel shipments in  3Q 2013 were  5.6 million  tonnes, a decrease  of 3.0%  as 
compared to 5.8 million tonnes in 2Q  2013, primarily due to lower volumes  in 
Europe (seasonal impact).

Sales in the Long  Carbon Americas and Europe  segment decreased 5.3% to  $5.1 
billion in  3Q  2013 as  compared  to $5.4  billion  in 2Q  2013.  Sales  were 
negatively impacted by lower  volumes and lower  average steel selling  prices 
(-3.3%) particularly across the Long  Carbon Americas (impacted by forex)  and 
Tubular businesses.

EBITDA in 3Q 2013  was $463 million,  a decline of 16.7%  as compared to  $556 
million in 2Q 2013, primarily driven by lower volumes and lower average  steel 
selling prices discussed above.

Asia Africa and CIS ("AACIS")

(USDm) unless otherwise shown       3Q 13 2Q 13 3Q 12[2]  9M 13 9M 12[2]
Sales                               2,112 2,115    2,457  6,356    7,921
EBITDA                                105   120       72    244      357
Operating loss                       (28)  (33)     (84)  (178)    (115)
Crude steel production (Kt)         3,710 3,681    3,721 10,636   11,027
Steel shipments (Kt)                3,187 3,062    3,178  9,353    9,852
Average steel selling price (US$/t)   603   623      658    615      684
EBITDA/tonne (US$/t)                   33    39       23     26       36
Operating loss /tonne (US$/t)         (9)  (11)     (26)   (19)     (12)

AACIS crude steel production was 3.7 million tonnes in 3Q 2013, an increase of
0.8% as compared to 2Q 2013.

Steel shipments in 3Q 2013 amounted to 3.2 million tonnes, an increase of 4.1%
as compared to 3.1  million tonnes in  2Q 2013 primarily  due to higher  steel 
shipment volumes in South Africa.

Sales in the AACIS segment were flat at $2.1 billion in 3Q 2013 as compared to
2Q 2013, as higher  steel volumes were offset  by lower average steel  selling 
prices (-3.2%).

EBITDA in 3Q 2013 declined 12.5% to  $105 million as compared to $120  million 
in 2Q 2013 due to the impact of a price/cost squeeze.

Distribution Solutions

(USDm) unless otherwise shown       3Q 13 2Q 13 3Q 12[2]  9M 13 9M 12[2]
Sales                               3,425 3,597    3,716 10,575   12,439
EBITDA                                 16    29       11     60      431
Operating income / (loss)            (15)  (12)     (32)   (43)      289
Steel shipments (Kt)                3,956 4,008    4,118 12,027   13,230
Average steel selling price (US$/t)   843   872      869    856      904

Shipments in the Distribution  Solutions segment in 3Q  2013 were 4.0  million 
tonnes, a decrease of 1.3% as compared to 2Q 2013.

Sales in 3Q 2013 were $3.4 billion,  lower as compared to $3.6 billion for  2Q 
2013, due primarily to  lower average steel selling  prices (-3.3%) and  lower 
steel shipment volumes.

EBITDA in 3Q  2013 was  $16 million  as compared to  $29 million  in 2Q  2013, 
primarily driven by lower volumes.

Mining

(USDm) unless otherwise shown              3Q 13 2Q 13 3Q 12[2] 9M 13 9M 12[2]
Sales[15]                                  1,595 1,351    1,314 4,145    4,214
EBITDA                                       533   432      396 1,398    1,428
Operating income                             280   286      255   852    1,023
Own iron ore production ^(a) (Mt)           14.9  15.0     14.3  43.0     41.9
Iron ore shipped externally and
internally and reported at market price     9.4   8.2      7.1  24.9     22.1
^(b) (Mt)
Own coal production^(a) (Mt)                 2.0   2.0      2.0   6.1      6.2
Coal shipped externally and internally and   1.3   1.1      1.2   3.7      3.8
reported at market price^(b) (Mt)

(a) Own  iron  ore and  coal  production not  including  strategic  long-term 
contracts
(b) Iron ore and coal shipments of market-priced based materials include  the 
Company's own  mines, and  share of  production at  other mines,  and  exclude 
supplies under strategic long-term contracts

Own iron  ore production  (not including  supplies under  strategic  long-term 
contracts) in  3Q  2013  was  14.9 million  metric  tonnes,  essentially  flat 
compared to 15.0 million metric tonnes for 2Q 2013.

Shipments at market price increased 15.3% to 9.4 million tonnes in 3Q 2013  as 
compared to 8.2 million tonnes in  2Q 2013, primarily due to higher  shipments 
from the Canadian operations. Shipments at market price in 3Q 2013 were  32.0% 
higher than 3Q 2012.

Own  coal  production  (not  including  supplies  under  strategic   long-term 
contracts) in 3Q 2013 was 2.0 million metric tonnes, representing an  increase 
of 3.0% as compared to 2Q 2013.

EBITDA for 3Q 2013 was $533 million, 23% higher as compared to $432 million in
2Q 2013. EBITDA was positively impacted  by higher volumes as well as  higher 
seaborne market prices, partially  offset by a portion  of iron ore  shipments 
from Canada and Mexico that  reference quarter-lagged prices which were  lower 
in 3Q 2013 than 2Q 2013.

Operating performance  for 3Q  2013 was  impacted by  $101 million  impairment 
related to  costs  associated  with  the  discontinued  iron  ore  project  in 
Senegal[10].

Liquidity and Capital Resources

For 3Q  2013, net  cash used  in  operating activities  was $0.4  billion,  as 
compared to net cash  provided by operating activities  of $2.4 billion in  2Q 
2013. Cash used  in operating activities  in 3Q 2013  included a $0.8  billion 
investment in operating working capital as compared to a $1.3 billion  release 
of operating  working  capital  in  2Q 2013.  Rotation  days[16]  in  3Q  2013 
increased to 62  days as compared  to 55 days  in 2Q 2013.  Net cash used  by 
other operating activities in 3Q 2013 was $0.7 billion. This includes reversal
of non-cash gains primarily income from equity investment and outflows related
to VAT, funding of deferred employee benefits, interest and tax.

Net cash used  in investing  activities during 3Q  2013 was  $621 million,  as 
compared to $717 million  in 2Q 2013. Capital  expenditures increased to  $806 
million in  3Q 2013  as  compared to  $709 million  in  2Q 2013.  The  Company 
continues to focus primarily on core growth capital expenditures in  franchise 
businesses. While most planned steel investments remain suspended, the Company
has selectively  restarted some  of its  capital expenditures  to support  the 
development of franchise steel businesses.

With these investments the Company  still expects to spend approximately  $3.7 
billion in capital expenditures for 2013.

Other investing activities in 3Q 2013  of $185 million primarily include  $216 
million received for the final instalment of Enovos[17], offset in part by  an 
outflow of $50 million related  to the payment of  the 5^th instalment of  the 
acquisition price of an additional 11% stake in Ostrava acquired in 2009.

Net cash used in financing activities for 3Q 2013 was $1.4 billion as compared
to cash used in financing activities of $2.8 billion in 2Q 2013. Net cash used
in financing activities  for 3Q  2013 included  early debt  repayment of  $0.8 
billion following the completion  of a cash tender  offer to purchase any  and 
all of the 6.5% U.S. dollar denominated Notes due in April 2014 ("the $  2014 
Notes") and the  4.625% EURO denominated  Notes due in  November 2014 ("the  € 
2014 Notes"), as  well as toprepay  €125 millionof 6.2%  Fixed Rate  Notes 
maturing in 2016 and $120 millionof6.38% privately placed Notes maturing  in 
2015. The Group purchased $311.5 million principal amount of the $ 2014  Notes 
for a total aggregate  purchase price (including  accrued interest) of  $327.8 
million and €139.5 million of the € 2014 Notes for a total aggregate  purchase 
price (including accrued interest) of €150.1 million. Upon settlement for  all 
of the notes accepted pursuant to the offers, $188.5 million principal  amount 
of $ 2014 Notes remained outstanding and €360.5 million principal amount of  € 
2014 Notes remained  outstanding. The Group  separately repurchased the  full 
notional outstanding on  the €125 million  6.2% Fixed Rate  Notes maturing  in 
2016 and $120 million 6.38% privately placed Notes maturing in 2015 for $328.1
million (including interest).

Net cash used in financing activities  for 2Q 2013 included debt repayment  of 
$3.3 billion (primarily  €1.5 billion  for the 8.25%  bond due  2013 and  $1.2 
billion for the 5.375% bond due  2013) and $290 million cash received  related 
to  the   second  and   final  instalment   of  joint   venture  interest   in 
ArcelorMittal's Labrador Trough iron ore  mining and infrastructure assets  in 
Quebec, Canada. Net cash provided by financing activities for 3Q 2012 was $0.2
billion, which  included  issue  of $650  million  of  subordinated  perpetual 
securities.

During 3Q  2013, the  Company  paid dividends  amounting  to $364  million  as 
compared to $297  million in  3Q 2012.  Dividends for  2013 are  based on  the 
single annual $0.20 per  share dividend payment for  1,654 million shares  and 
include dividends to perpetual bond  holders, while the 2012 dividend  payment 
related to the  quarterly payment equivalent  to $0.1875 per  share for  1,549 
million shares.

At September  30, 2013,  the Company's  cash and  cash equivalents  (including 
restricted cash) and  short-term investments[7]  amounted to  $4.5 billion  as 
compared to $6.9 billion at June 30,  2013. Gross debt[7] of $22.3 billion  at 
September 30,  2013, decreased  from $23.1  billion at  June 30,  2013. As  of 
September 30, 2013,  net debt[7]  was $17.8  billion, as  compared with  $16.2 
billion at June 30, 2013, driven by decreased cash flow from operations  (with 
investment in  working  capital)  and  payment of  annual  dividends.  Due  to 
expected improved operating  cash flows  and proceeds  from already  announced 
disposals, net debt is  expected to decrease in  4Q 2013 to approximately  $17 
billion.

The Company  had  liquidity[18]  of  $14.5  billion  at  September  30,  2013, 
consisting of  cash  and  cash  equivalents  (including  restricted  cash  and 
short-term investments) of $4.5  billion and $10  billion of available  credit 
lines. At September 30, 2013, the average debt maturity was 6.4 years.

3-year $3 billion management gains program

During the investor day held  on March 15, 2013,  the Company announced a  new 
management gains improvement  target of  $3 billion by  the end  of 2015.  The 
program is expected to yield approximately $1 billion of savings over each  of 
the next 3  years. Action  plans and  detailed targets  have been  set at  the 
various business units  and progress will  be monitored and  reported upon  in 
future quarters. The Group is  targeting cost savings related to  reliability, 
fuel rate, yield  and productivity  with two  thirds of  costs targeted  being 
variable costs.

At September  30,  2013, $0.8  billion  of annualized  improvements  had  been 
achieved on a run rate basis.

Asset Optimization

The essential  components  of  Asset Optimization  have  been  announced.  The 
Company confirms that the Asset Optimization introduced in 4Q 2011 is expected
to deliver annualized savings of $1  billion, the full impact of which  should 
be seen in 2014.

Recent developments

  *On September 30, 2013, a five-year agreement on the industrial plan for
    downstream activities at ArcelorMittal Liège was agreed and finalised with
    the unions. This followed eight months of intense negotiations with the
    Walloon government and other stakeholders. The agreement confirms that
    six lines will be maintained: five strategic lines and the hot-dip
    galvanising line number five. The remaining cold phase lines and the
    liquid phase assets will be mothballed (except for blast furnace number
    six, which will be dismantled). ArcelorMittal has also confirmed its
    commitment to an investment programme of €138 million. In addition,
    ArcelorMittal has confirmed that research and development work will
    continue in Liège. As a result of the industrial plan agreement, social
    plan negotiations began on October 7, 2013 for a period of 30 days,
    including an option for a 30-day extension periodif an agreement is not
    reached within the first negotiation period.

  *On October 5, 2013 ArcelorMittal and Sider, an Algerian state-owned
    company, finalized a strategic agreement including an investment plan of
    $763 million for the steel complex at Annaba and the mines in Ouenza and
    Boukhadra. The plan includes a project to more than double the plant's
    production capacity from 1 million to 2.2 million tons per year by 2017.
    In return for the Group's ownership dilution (from 70% to 49%) the
    Government of Algeria offered various incentives, including low-cost local
    bank financing. The investment plan will be funded by equity contributions
    from shareholders and bank financing.

  *In 2007, ArcelorMittal Holdings AG entered into an agreement with the
    State of Senegal relating to an integrated iron ore mining and related
    infrastructure project. The Company announced at the time that
    implementation of the project would entail an aggregate investment of $2.2
    billion. Project implementation did not follow the originally anticipated
    schedule after initial phase studies and related investments. The Company
    engaged in discussions with the State of Senegal about the project over a
    long period. In early 2011, the parties engaged in a conciliation
    procedure, as provided for under their agreement, in an attempt to reach a
    mutually acceptable outcome. Following the unsuccessful completion of this
    procedure, in May 2011, the State of Senegal commenced arbitration before
    the Court of Arbitration of the International Chamber of Commerce,
    claiming breach of contract and provisionally estimating damages of $750
    million. In September 2013, the arbitral Tribunal issued its first award
    and decided that Senegal is entitled to terminate the 2007 agreements.
    The Tribunal also indicated that a new arbitration phase will be held to
    decide upon the liability of ArcelorMittal as well as the amount of any
    damages which could be awarded to Senegal.ArcelorMittal will vigorously
    defend against any claims made for damages in the second phase of the
    arbitration. It is now considered improbable that the project will be
    implemented and ArcelorMittal has impaired the entire amount of the
    investment made up to September 30, 2013.

  *On October 8, 2013, ArcelorMittal announced the sale of 233,169,183 shares
    (the "Shares") in Eregli Demir veÇelik Fabrikalari T.A.S. ("Erdemir") by
    way of a single accelerated bookbuilt offering to institutional investors.
    The sale generated proceeds of approximately $267 million.Prior to the
    sale, ArcelorMittal owned 655,969,154 Shares in Erdemir, representing
    approximately 18.74% of Erdemir's share capital. Following completion of
    the sale, ArcelorMittal holds approximately 12.08% of Erdemir's share
    capital. ArcelorMittal has agreed to a 180-day lock-up period on its
    remaining stake in Erdemir. The transaction is cash positive, however
    there is an accounting loss of approximately $57 million to be booked in
    the fourth quarter of 2013.

  *On November 5, 2013, ArcelorMittal announced that its 51% subsidiary,
    ArcelorMittal South Africa, has reached an agreement with Sishen Iron Ore
    Company Ltd (SIOC), a subsidiary of Kumba, relating to the long-term
    supply of iron ore. The agreement, which will become effective from
    January 1, 2014, allows ArcelorMittal South Africa to purchase up to 6.25
    million tonnes a year of iron ore from SIOC, complying with agreed
    specifications and lump-fine ratios. The price of iron ore sold to
    ArcelorMittal South Africa by SIOC will be determined with reference to
    the cost (including capital costs) associated with the production of iron
    ore from the DMS Plant at the Sishen Mine plus a margin of 20%, subject to
    a ceiling price equal to the Sishen Export Parity Price at the mine gate.
    While all prices will be referenced to Sishen Mine costs (plus 20%) there
    is an agreed price for pre-determined quantities of iron ore for the first
    two years of the agreement. This volume of 6.25 million tonnes a year of
    iron ore includes any volumes delivered by SIOC to ArcelorMittal from the
    Thabazimbi mine, the operational and financial risks of which will pass
    from ArcelorMittal to Kumba under the terms of this agreement. The
    agreement settles various disputes between the parties.

Outlook and guidance

In line  with  our  guidance  framework,  underlying  profitability  is  still 
expected to improve in 2013, driven by three factors:

 a) a 1-2% increase in steel shipments;
   b) an approximate 20% increase in marketable iron ore shipments; and
   c) the benefits  realized  from  Asset Optimization  and  Management  Gains 
      initiatives.

The Company still expects 2013 EBITDA to be greater than $6.5 billion.

Due to  improved operating  cash  flows and  proceeds from  already  announced 
disposals, net debt is  expected to decrease in  4Q 2013 to approximately  $17 
billion; the $15 billion medium term net debt target is unchanged.

2013 capital expenditure is still expected to be approximately $3.7 billion.

ARCELORMITTAL CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

In millions of U.S. dollars              September30, June30, December 31,
                                                   2013     2013       2012[2]
ASSETS
Cash and cash equivalents including               4,428    6,918         4,540
restricted cash
Trade accounts receivable and other               5,772    5,866         5,085
Inventories                                      18,495   18,067        19,003
Prepaid expenses and other current                3,410    3,862         3,154
assets
Assets held for sale[7]                            398        -             -
Total Current Assets                             32,503   34,713        31,782
Goodwill and intangible assets                    9,001    9,123         9,581
Property, plant and equipment                    51,792   51,580        53,989
Investments in affiliates and joint               6,957    6,913         7,181
ventures
Deferred tax assets                               8,408    8,134         8,221
Other assets                                      2,505    2,170         3,244
Total Assets                                    111,166  112,633       113,998
LIABILITIES AND SHAREHOLDERS' EQUITY
Short-term debt and current portion of            3,592    4,140         4,348
long-term debt
Trade accounts payable and other                 11,908   12,499        11,407
Accrued expenses and other current                7,331    8,243         8,082
liabilities
Liabilities held for sale[7]                        393        -             -
Total Current Liabilities                        23,224   24,882        23,837
Long-term debt, net of current portion           18,469   18,943        21,965
Deferred tax liabilities                          2,703    2,690         2,958
Other long-term liabilities[19]                  14,373   14,455        14,772
Total Liabilities                                58,769   60,970        63,532
Equity attributable to the equity                48,923   48,263        47,016
holders of the parent
Non-controlling interests                         3,474    3,400         3,450
Total Equity                                     52,397   51,663        50,466
Total Liabilities and Shareholders'             111,166  112,633       113,998
Equity

ARCELORMITTAL CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

                         Three months ended               Nine-months ended
                September30, June30, September30, September30, September30,
In millions of           2013     2013       2012[2]          2013       2012[2]
U.S. dollars
Sales                  19,643   20,197        19,723        59,592        64,904
Depreciation          (1,135)  (1,136)       (1,162)       (3,432)       (3,462)
Impairment              (101)     (39)         (130)         (140)         (199)
Restructuring              -    (173)          (98)         (173)         (395)
charges
Operating                 477      352            55         1,233         2,066
income
Operating                2.4%     1.7%          0.3%          2.1%          3.2%
margin %
Income / (loss)
from equity
method                     53     (24)          (56)            11            47
investments and
other income
Net interest            (409)    (471)         (479)       (1,358)       (1,396)
expense
Foreign
exchange and
other net               (269)    (530)         (148)         (954)         (632)
financing
(losses)
Income (loss)
before taxes
and                     (148)    (673)         (628)       (1,068)            85
non-controlling
interests
Current tax              (11)    (149)         (101)         (221)         (408)
Deferred tax               16       50            57            30           758
Income tax
benefit /                   5     (99)          (44)         (191)           350
(expense)
Income / (loss)
from continuing
operations              (143)    (772)         (672)       (1,259)           435
including
non-controlling
interest
Non-controlling          (50)      (8)            20          (59)            21
interests
Net income /
(loss) from             (193)    (780)         (652)       (1,318)           456
continuing
operations
Basic earnings
/ (loss) per           (0.12)   (0.44)        (0.42)        (0.77)          0.29
common share
($)
Diluted
earnings /
(loss) per             (0.12)   (0.44)        (0.42)        (0.77)          0.27
common share
($)
Weighted
average common
shares                  1,788    1,788         1,549         1,776         1,549
outstanding (in
millions)
Adjusted
diluted
weighted
average common          1,789    1,789         1,549         1,777         1,611
shares
outstanding (in
millions)
EBITDA[4]               1,713    1,700         1,445         4,978         6,122
EBITDA margin %          8.7%     8.4%          7.3%          8.4%          9.4%
OTHER
INFORMATION
Total iron ore
production[20]           17.7     18.2          17.8          51.4          51.2
(million metric
tonnes)
Crude steel
production               23.3     22.5          21.9          68.2          67.4
(million metric
tonnes)
Total shipments
of steel
products[21]             21.1     21.3          19.9          63.4          63.8
(million metric
tonnes)
Employees (in             239      242           252           239           252
thousands)

ARCELORMITTAL CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

In millions of           Three months ended               Nine-months ended
U.S. dollars
                September30, June30, September30, September30, September30,
                    2013        2013      2012[2]        2013         2012[2]
Operating
activities:
Income / (loss)
from continuing         (193)    (780)         (652)       (1,318)           456
operations
Adjustments to
reconcile
income / (loss)
to net cash
provided by
operations:
Non-controlling            50        8          (20)            59          (21)
interests
Depreciation            1,236    1,175         1,292         3,572         3,661
and impairment
Restructuring             -       173            98           173           395
charges
Deferred income          (16)     (50)          (57)          (30)         (758)
tax
Change in
operating               (806)    1,272         (307)          (83)           785
working
capital[22]
Other operating
activities              (719)      561         (685)         (764)       (2,069)
(net)
Net cash (used
in) provided by         (448)    2,359         (331)         1,609         2,449
operating
activities
Investing
activities:
Purchase of
property, plant         (806)    (709)       (1,217)       (2,442)       (3,588)
and equipment
and intangibles
Other investing
activities                185      (8)           144           301           720
(net)
Net cash used
in investing            (621)    (717)       (1,073)       (2,141)       (2,868)
activities
Financing
activities:
Net proceeds
(payments)
relating to           (1,045)  (3,047)          (80)       (4,113)           237
payable to
banks and
long-term debt
Dividends paid          (364)      (3)         (297)         (401)         (885)
Combined
capital                   -       -            -          3,978           - 
offering
Proceeds from
subordinated              -       -            642           -            642
perpetual
securities
Disposal /
(Acquisition)
of                        -       290           -          1,100          (10)
non-controlling
interest
Other financing
activities               (31)     (36)          (22)         (107)          (80)
(net)
Net cash (used
in) provided by       (1,440)  (2,796)           243           457          (96)
financing
activities
Net (decrease)
in cash and           (2,509)  (1,154)       (1,161)          (75)         (515)
cash
equivalents
Cash and cash
equivalents
transferred to           (41)        -         (441)          (41)         (441)
assets held for
sale
Effect of
exchange rate              47       61            33          (38)          (46)
changes on cash
Change in cash
and cash              (2,503)  (1,093)       (1,569)         (154)       (1,002)
equivalents

Appendix 1a: Key financial and operational information - Third quarter of 2013

USDm unless     FlatCarbon FlatCarbon     Long Carbon     AACIS  Distribution Mining
otherwise shown  Americas     Europe    AmericasandEurope         Solutions
FINANCIAL
INFORMATION
Sales                $4,921      $6,334              $5,133 $2,112       $3,425 $1,595
Depreciation          (226)       (367)               (212)  (133)         (31)  (152)
Impairment                -           -                   -      -            -  (101)
Restructuring             -           -                   -      -            -      -
charges
Operating               321       (174)                 251   (28)         (15)    280
income / (loss)
Operating
margin (as a %         6.5%      (2.7%)                4.9% (1.3%)       (0.4%)  17.6%
of sales)
EBITDA[4]               547         193                 463    105           16    533
EBITDA margin
(as a % of            11.1%        3.0%                9.0%   5.0%         0.5%  33.4%
sales)
Capital                 101         143                 127     83           20    314
expenditure[23]
OPERATIONAL
INFORMATION
Crude steel
production            6,343       7,439               5,771  3,710            -      -
(Thousand MT)
Steel shipments       5,759       6,579               5,599  3,187        3,956      -
(Thousand MT)
Average steel
selling price           804         803                 820    603          843      -
($/MT)[24]
MINING
INFORMATION
(Million Mt)
Iron ore                  -           -                   -      -            -   17.7
production[20]
Coal                      -           -                   -      -            -    2.3
production[20]
Iron ore
shipped
externally and            -           -                   -      -            -    9.4
internally and
reported at
market price[6]
Iron ore
shipped
internally and            -           -                   -      -            -    6.8
reported at
cost-plus[6]
Coal shipped
externally and
internally and            -           -                   -      -            -    1.3
reported at
market price[6]
Coal shipped
internally and            -           -                   -      -            -    0.7
reported at
cost-plus[6]

Appendix 1b: Key financial and operational information - Nine months of 2013

USDm unless     FlatCarbon FlatCarbon     Long Carbon     AACIS  Distribution Mining
otherwise shown  Americas     Europe    AmericasandEurope         Solutions
FINANCIAL
INFORMATION
Sales               $14,568     $20,071             $15,656 $6,356      $10,575 $4,145
Depreciation          (701)     (1,084)               (672)  (398)         (97)  (445)
Impairment                -        (24)                   -   (15)            -  (101)
Restructuring             -       (157)                 (1)    (9)          (6)      -
charges
Operating               582       (431)                 765  (178)         (43)    852
income / (loss)
Operating
margin (as a %         4.0%      (2.1%)                4.9% (2.8%)       (0.4%)  20.6%
of sales)
EBITDA[4]             1,283         834               1,438    244           60  1,398
EBITDA margin
(as a % of             8.8%        4.2%                9.2%   3.8%         0.6%  33.7%
sales)
Capital                 254         456                 395    270           41  1,001
expenditure[23]
OPERATIONAL
INFORMATION
Crude steel
production           18,129      22,199              17,235 10,636            -      -
(Thousand MT)
Steel shipments      16,725      20,534              16,765  9,353       12,027      -
(Thousand MT)
Average steel
selling price           818         821                 842    615          856      -
($/MT)[24]
MINING
INFORMATION
(Million Mt)
Iron ore                  -           -                   -      -            -   51.4
production[20]
Coal                      -           -                   -      -            -    6.6
production[20]
Iron ore
shipped
externally and            -           -                   -      -            -   24.9
internally and
reported at
market price[6]
Iron ore
shipped
internally and            -           -                   -      -            -   18.2
reported at
cost-plus[6]
Coal shipped
externally and
internally and            -           -                   -      -            -    3.7
reported at
market price[6]
Coal shipped
internally and            -           -                   -      -            -    2.1
reported at
cost-plus[6]

Appendix 2a: Steel Shipments by geographical location[25]

(Amounts in thousands metric         3Q 13    2Q 13    3Q 12    9M 13    9M 12
tonnes)
Flat Carbon Americas:                5,759    5,407    5,351   16,725   16,758
North America                        4,693    4,308    4,530   13,520   13,683
South America                        1,066    1,099      821    3,205    3,075
Flat Carbon Europe:               6,579 7,065 5,837 20,534 20,069
Long Carbon Americas and Europe:     5,599    5,772    5,508   16,765   17,085
North America                        1,144    1,202    1,031    3,470    3,385
South America                        1,488    1,316    1,403    4,170    4,021
Europe                               2,733    2,991    2,828    8,419    8,907
Other[26]                              234      263      246      706      772
AACIS:                               3,187    3,062    3,178    9,353    9,852
Africa                               1,116    1,017    1,075    3,206    3,569
Asia, CIS & Other                    2,071    2,045    2,103    6,147    6,283

Appendix 2b: Steel EBITDA by geographical location

Amounts in USDm                  3Q13 2Q13 3Q12[2] 9M 13 9M12[2]
Flat Carbon Americas:                 547      293      326    1,283    1,646
North America                         370      106      350      799    1,520
South America                         177      187     (24)      484      126
Flat Carbon Europe:                   193      341      191      834      705
Long Carbon Americas and Europe:      463      556      340    1,438    1,363
North America                          32       66       21      149      143
South America                         301      305      208      846      700
Europe                                 86      113       35      302      280
Other[26]                              44       72       76      141      240
AACIS:                                105      120       72      244      357
Africa                                 58       82       27      159      151
Asia, CIS & Other                      47       38       45       85      206
Distribution Solutions:                16       29       11       60      431

Appendix 2c: Iron ore production (Million metric tonnes)

Million
metric
tonnes ^(a)          Type                Product 3Q13 2Q13 3Q12 9M13 9M12
North            Open Pit     Concentrate, lump,   8.3   8.2   7.7  23.4  22.7
America ^(b)                   fines and Pellets
South            Open pit         Lump and fines   1.0   1.0   1.2   2.9   2.8
America
Europe           Open pit   Concentrateandlump   0.6   0.6   0.6   1.7   1.6
Africa         Open Pit /                  Fines   1.3   1.3   1.1   3.9   3.7
              Underground
Asia, CIS &    Open Pit /     Concentrate, lump,   3.6   3.8   3.7  11.1  11.1
Other         Underground  fines and sinter feed
Own iron ore                                      14.9  15.0  14.3  43.0  41.9
production
North
America ^        Open Pit                Pellets   1.9   2.0   2.4   5.0   5.5
(c)
Africa ^(d)      Open Pit         Lump and Fines   0.9   1.2   1.2   3.4   3.9
Strategic
contracts -                                        2.8   3.2   3.6   8.4   9.3
iron ore
Group                                             17.7  18.2  17.8  51.4  51.2

 a) Total of all finished production of fines, concentrate, pellets and
      lumps.
   b) Includes own mines and share of production from Hibbing (USA-62.30%) and
      Pena (Mexico-50%).
   c) Consists of a long-term supply contract with Cleveland Cliffs for
      purchases made at a previously set price, adjusted for changes in
      certain steel prices and inflation factors.
   d) Includes purchases under a strategic agreement with Sishen/Thabazambi
      (South Africa). Prices for purchases under the July 2010 interim
      agreement with Kumba (as extended and amended several times) have been
      on a fixed-cost basis since March 1, 2010.

Appendix 2d: Iron ore shipments (Million metric tonnes)

Million metric tonnes             3Q13 2Q13 3Q12 9M13 9M12
External sales - Third party           3.0      2.2      2.4      7.3      7.8
Internal sales - Market-priced         6.4      6.0      4.8     17.5     14.3
Internal sales - Cost-plus basis       6.8      6.5      6.9     18.2     18.8
Flat Carbon Americas                   2.6      2.4      2.3      5.5      5.5
Long Carbon Americas and Europe        1.2      1.2      1.3      3.5      3.8
AACIS                                  3.0      2.9      3.3      9.1      9.5
Total shipments                       16.2     14.7     14.0     43.0     40.9
Strategic contracts                    2.8      3.2      3.6      8.4      9.3
Flat Carbon Americas                   1.9      2.0      2.4      5.0      5.5
AACIS                                  0.9      1.2      1.2      3.4      3.9
Total shipments including             19.1     17.9     17.6     51.4     50.3
strategic contracts

Appendix 2e: Coal production (Million metric tonnes)

Million metric tonnes        3Q13 2Q13 3Q12 9M13 9M12
North America                    0.64     0.69     0.60     2.03     1.85
Asia, CIS & Other                1.40     1.29     1.44     4.03     4.38
Own coal production              2.04     1.98     2.05     6.06     6.23
North America^(a)                0.10     0.08     0.08     0.27     0.23
Africa^(b)                       0.13     0.11     0.10     0.30     0.27
Strategic contracts - coal       0.23     0.19     0.19     0.57     0.50
Group                            2.27     2.17     2.24     6.63     6.73

(a) Includes strategic agreement - prices on a fixed-price basis
(b) Includes long term lease - prices on a cost-plus basis

Appendix 2f: Coal shipment (Million metric tonnes)

Million metric tonnes             3Q13 2Q13 3Q12 9M13 9M12
External sales - Third party          0.87     0.82     0.69     2.61     2.40
Internal sales - Market-priced        0.43     0.31     0.54     1.09     1.41
Internal sales (AACIS) -              0.68     0.70     0.82     2.09     2.34
Cost-plus basis
Total shipments                       1.98     1.83     2.04     5.80     6.16
Strategic contracts                   0.23     0.19     0.19     0.57     0.50
Total shipments including             2.21     2.02     2.23     6.37     6.66
strategic contracts

Appendix 3: Debt repayment schedule as of September 30, 2013

Debt repayment schedule (USD  2013 2014 2015 2016 2017 >2017 Total
billion)
Term loan repayments
- Convertible bonds                -    2.4      -     -      -     -     2.4
- Bonds                            -    0.8    2.2    1.8    2.7   9.8    17.3
Subtotal                         0.0    3.2    2.2    1.8    2.7   9.8    19.7
LT revolving credit lines
- $6bn syndicated credit
facility                           -      -      -      -      -     -       -
- $4bn syndicated credit
facility                           -      -      -      -      -     -       -
Commercial paper[27]             0.1      -      -      -      -     -     0.1
Other loans                      0.4    0.5    0.3    0.6    0.2   0.5     2.5
Total Gross Debt                 0.5    3.7    2.5    2.4    2.9  10.3    22.3

Appendix 4: Credit lines available as of September 30, 2013

Credit lines available (USD billion)      Maturity Commitment Drawn Available
- $6bn syndicated credit facility       18/03/2016       $6.0  $0.0      $6.0
- $4bn syndicated credit facility       06/05/2015       $4.0  $0.0      $4.0
Total committed lines                                   $10.0  $0.0     $10.0

Appendix 5: Other ratios

Ratios                                                         3Q13 2Q13
Gearing[28]                                                        34%     31%
Net debt /EBITDA ratio based on last twelve months' reported
EBITDA                                                            2.7X    2.6X

Appendix 6: Earnings per share

USD                            Three months ended          Nine months ended
                         Sept30, Jun31, Sept30, Sept30, Sept30,
Earnings / (loss) per          2013      2013    2012[2]       2013    2012[2]
share
Basic (loss) / earnings      (0.12)    (0.44)     (0.42)     (0.77)       0.29
per common share
Diluted (loss) /
earnings per common          (0.12)    (0.44)     (0.42)     (0.77)       0.27
share

Appendix 7: EBITDA Bridge from 2Q 2013 to 3Q 2013

                Volume   Volume &               Price-cost  Non
USD      EBITDA & Mix -    Mix -    Price-cost   - Mining  -Steel Other EBITDA
millions 2Q 13   Steel  Mining (a)  - Steel (b)    (b)     EBITDA  (d)  3Q 13
                  (a)                                       (c)
Group    1,700   (202)      70          177         30      (6)   (56)  1,713

a) The volume variance indicates the  sales value gain/loss through selling  a 
higher/lower volume  compared to  the reference  period, valued  at  reference 
period contribution (selling price-variable cost). The mix variance  indicates 
sales value gain/loss through selling  different proportions of mix  (product, 
choice, customer, market including domestic/export), compared to the reference
period contribution.
b) The price-cost  variance is  a combination of  the selling  price and  cost 
variance. The  selling  price variance  indicates  the sales  value  gain/loss 
through selling at a higher/lower price compared to the reference period after
adjustment for mix,  valued with  the current  period volumes  sold. The  cost 
variance indicates  increase/decrease  in  cost  (after  adjustment  for  mix, 
one-time items, non-steel cost  and others) compared  to the reference  period 
cost. Cost  variance  includes the  gain/loss  through consumptions  of  input 
materials at a higher  price/lower price, movement in  fixed cost, changes  in 
valuation of inventory due to movement in capacity utilization etc.
c) Non-steel EBITDA  variance primarily represents  the gain/loss through  the 
sale of by-products and services.
d) Other represents  the gain/loss through  movements in provisions  including 
write  downs,  write  backs  of  inventory,  onerous  contracts,  reversal  of 
provisions, dynamic delta hedge  on raw materials,  foreign exchange, etc.  as 
compared to the reference period. This figures in 3Q 2013 specifically relates
to foreign exchange losses primarily due to the 9.6% devaluation in 3Q 2013 of
the Brazil real versus US dollar.

Appendix 8: Capital expenditure[23]

USD millions                   3Q13 2Q13 3Q12[2] 9M13 9M12[2]
Flat Carbon Americas                101       68      167      254         546
Flat Carbon Europe                  143      105      182      456         668
Long Carbon Americas and            127      128      174      395         545
Europe
AACIS                                83       99      115      270         327
Distribution Solutions               20        9       21       41          69
Mining                              314      298      497    1,001       1,351

Note: Table excludes others and eliminations.

Appendix 9: End notes

[1] The  financial information  in this  press release  has been  prepared  in 
accordance with International Financial Reporting Standards ("IFRS") as issued
by the International  Accounting Standards Board  ("IASB"). While the  interim 
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  International   Accounting  Standards   34,  "Interim   Financial 
Reporting". The  numbers in  this press  release have  not been  audited.  The 
financial information and certain other  information presented in a number  of 
tables in this press release have been rounded to the nearest whole number  or 
the nearest decimal. Therefore,  the sum of  the numbers in  a column may  not 
conform exactly  to the  total  figure given  for  that column.  In  addition, 
certain percentages  presented in  the tables  in this  press release  reflect 
calculations based  upon the  underlying information  prior to  rounding  and, 
accordingly, may not conform exactly to the percentages that would be  derived 
if the relevant calculations were based upon the rounded numbers.
[2] On January 1, 2013, in accordance with IFRS as issued by the International
Accounting Standards Board ("IASB"), ArcelorMittal mandatorily adopted IFRS 10
("Consolidated Financial Statements"), IFRS 11 ("Joint Arrangements"), IFRS 12
("Disclosure  of  Interests  in  Other   Entities"),  IFRS  13  ("Fair   Value 
Measurement"), the  revision of  IAS  19 ("Employee  Benefits") and  IFRIC  20 
("Stripping Costs in the  Production Phase of a  Surface Mine"). Prior  period 
2012 information has been adjusted retrospectively for the mandatory  adoption 
of these new standards and interpretations except for IFRS 13 which is applied
only prospectively.  The main  effects for  ArcelorMittal are  related to  the 
revision of IAS 19R which was applied retrospectively. Following the  changes, 
the previously unrecognized actuarial gains and losses on pension  liabilities 
are recorded in the statements of  financial position in full against  equity. 
It means that the  previously unrecognized actuarial gains  and losses are  no 
longer recorded over time against profit  and loss following the then  allowed 
"corridor approach".  All  future actuarial  gains  and losses  will  also  be 
immediately recognized in other comprehensive  income (OCI). In addition,  for 
purposes of measuring  the net financial  cost on pension  liabilities/assets, 
the expected rate  of return  on assets  must be  equal to  the discount  rate 
applicable to liabilities.
[3] Lost time injury  frequency rate equals lost  time injuries per  1,000,000 
worked hours, based on own personnel and contractors.
[4] EBITDA  is  defined  as operating  income  plus  depreciation,  impairment 
expenses and exceptional items. 
[5] Reported EBITDA in 3Q 2012 of $1,445 million included a positive impact of
$131 million of DDH income partially offset by a $72 million charge related to
a one-time signing  bonus and  post retirement benefit  costs following  entry 
into a new labor  contract in the  U.S. As a result  underlying EBITDA for  3Q 
2012 is $1,386 million.
[6] Market  priced  tonnes  represent  amounts  of  iron  ore  and  coal  from 
ArcelorMittal mines that could  be sold to third  parties on the open  market. 
Market priced tonnes that are not sold to third parties are transferred  from 
the Mining segment to the Company's  steel producing segments and reported  at 
the  prevailing  market  price.  Shipments  of  raw  materials  that  do  not 
constitute market priced tonnes are  transferred internally and reported on  a 
cost-plus basis.
[7] Net debt refers  to long-term debt,  plus short term  debt, less cash  and 
cash equivalents, restricted cash and short-term investments (including  those 
held as part  of asset/liabilities held  for sale). As  at September 30,  2013 
cash included $42 million  and debt included $202  million held at Annaba.  In 
accordance with IFRS5, asset and liabilities from the Annaba and Tebessa stake
dilution have been classified as asset/liabilities held for sale. 
[8] On October 8, 2013, ArcelorMittal announced the sale of 233,169,183 shares
(the "Shares") of Eregli Demir ve Çelik Fabrikalari T.A.S. ("Erdemir") by  way 
of a single  accelerated bookbuilt  offering to  institutional investors.  The 
sale generated  proceeds of  approximately $267  million. Prior  to the  sale, 
ArcelorMittal owned 655,969,154 Shares,  representing approximately 18.74%  of 
Erdemir's share capital. Following completion of the sale, ArcelorMittal holds
approximately 12.08% of Erdemir's share capital. ArcelorMittal has agreed to a
180-day lock-up period on its remaining  stake in Erdemir. The transaction  is 
cash positive;  however  there is  an  accounting loss  of  approximately  $57 
million to be booked in the fourth quarter of 2013.
[9] EBITDA/t includes total group EBITDA divided by total steel shipments.
[10] In 2007,  ArcelorMittal Holdings AG  entered into an  agreement with  the 
State of  Senegal  relating to  an  integrated  iron ore  mining  and  related 
infrastructure project. The Company announced at the time that  implementation 
of the project would entail an  aggregate investment of $2.2 billion.  Project 
implementation did  not  follow  the  originally  anticipated  schedule  after 
initial phase  studies  and  related  investments.  The  Company  engaged  in 
discussions with the State of Senegal about the project over a long period. In
early 2011, the parties engaged in  a conciliation procedure, as provided  for 
under their agreement, in an attempt  to reach a mutually acceptable  outcome. 
Following the  unsuccessful completion  of this  procedure, in  May 2011,  the 
State of Senegal commenced an arbitration  before the Court of Arbitration  of 
the International  Chamber  of  Commerce,  claiming  breach  of  contract  and 
provisionally estimating  damages  of $750  million.  In September  2013,  the 
arbitral Tribunal issued its first award and decided that Senegal is  entitled 
to terminate the  2007 agreements.  The Tribunal  also indicated  that a  new 
arbitration phase will be held to  decide upon the liability of  ArcelorMittal 
as well as  the amount of  any damages which  could be awarded  to Senegal.   
ArcelorMittal will vigorously defend  against any claims  made for damages  in 
the second phase of the arbitration. It is now considered improbable that  the 
project will be implemented and  ArcelorMittal has impaired the entire  amount 
of the investment made up to September 30, 2013.
[11] ArcelorMittal Dofasco has  made a number of  changes to its pension  plan 
and health and dental benefits. Employees at Dofasco will be transitioned from
an existing defined benefit pension plan to a new defined contribution pension
plan. Changes to health and dental benefits will result in an increase in  the 
portion of the cost of  health benefits that is  borne by participants in  the 
plans. These changes  resulted in  a curtailment gain  of $241  million in  1Q 
2012. Under IAS 19R, the curtailment gain in Dofasco increased by $44  million 
to $285 million due to the  full underlying liability being recognized on  the 
balance sheet.
[12] On  June  20,  2012,  ArcelorMittal  completed  the  sale  of  its  steel 
foundation  distribution  business  in  NAFTA,  Skyline  Steel  and  Astralloy 
("Skyline Steel"),  to Nucor  Corporation for  a total  consideration of  $674 
million. The transaction  comprises 100% of  ArcelorMittal's stake in  Skyline 
Steel's operations in the NAFTA countries and the Caribbean.
[13] Foreign exchange and other  net financing costs include foreign  currency 
swaps, bank fees, interest on  pensions, impairments of financial  instruments 
and revaluation of derivative instruments.
[14] On February 6, 2013, the Company's interest in the associate Hunan  Valin 
Steel Tube  and  Wire Co.  Ltd.  ("Hunan Valin")  decreased  from 30%  to  25% 
following the sale of a  5% stake to Hunan Valin  Iron & Steel Group Co,  Ltd. 
("Valin Group"). The total  proceeds were reinvested  into a capital  increase 
and the  acquisition of  an  additional 16%  interest in  Valin  ArcelorMittal 
Automotive Steel ("VAMA"), a downstream automotive steel joint venture between
ArcelorMittal and Valin Group in  which the Company increased accordingly  its 
stake from 33% to 49%.
[15] There are three categories of  sales: 1) "External sales": mined  product 
sold to third  parties at  market price; 2)  "Market-priced tonnes":  internal 
sales of mined product to ArcelorMittal facilities and reported at  prevailing 
market prices; 3)  "Cost-plus tonnes"  - internal  sales of  mined product  to 
ArcelorMittal facilities  on a  cost-plus basis.  The determinant  of  whether 
internal sales are reported  at market price or  cost-plus is whether the  raw 
material could practically be sold to third parties (i.e. there is a potential
market for the product and logistics exist to access that market).
[16] Rotation days  are defined as  days of accounts  receivable plus days  of 
inventory minus  days  of  accounts  payable. Days  of  accounts  payable  and 
inventory are a function of cost of goods sold of the quarter on an annualized
basis. Days of accounts receivable are a  function of sales of the quarter  on 
an annualized basis.
[17] On April 4, 2012, ArcelorMittal  Luxembourg entered into an agreement  to 
divest its 23.48% interest in Enovos International SA to a fund managed by AXA
Private Equity for a  purchase price of EUR  330 million. The purchase  price 
was split with EUR 165 million  payable at closing, and the remaining  portion 
deferred for up to two years. Closing of the transaction occurred on July  17, 
2012, with $189 million received for the first instalment of Enovos sale price
(after adjustment for dividends). The second and final tranche of $216 million
was received in Q3 2013. Taking into account acquisition cost net of dividends
received, the disposal of the 23.48%  stake in Enovos was cash positive  (from 
an accounting  point  of view  the  transaction resulted  in  a loss  of  $0.2 
billion).
[18] Includes back-up lines for the commercial paper program.
[19] Discount  rates  for  pension  liabilities  generally  decreased  between 
December 31, 2012  and September 30,  2013. For an  illustration of  potential 
sensitivities to a change of  significant actuarial assumptions, please  refer 
to page 134  of the  Half Year  Report 2013  or F88-89  of the  Recast of  the 
Company's 2012 Annual Report on Form 20-F.
[20] Total of all  finished production of  fines, concentrate, pellets,  lumps 
and coal (includes share of production and strategic long-term contracts).
[21]  ArcelorMittal  Distribution  Solutions   shipments  are  eliminated   in 
consolidation as  they primarily  represent shipments  originating from  other 
ArcelorMittal operating subsidiaries.
[22] Operating working capital  is defined as  trade accounts receivable  plus 
inventories less trade accounts payable.
[23] Capex includes the acquisition of intangible assets (such as  concessions 
for mining and IT support) and includes payments to fixed asset suppliers.
[24] Average steel  selling prices are  calculated as steel  sales divided  by 
steel shipments.
[25] Shipments originating from a geographical location.
[26] Includes Tubular products business.
[27] Commercial paper is expected to continue to be rolled over in the  normal 
course of business.
[28] Gearing is defined as (A) long-term debt, plus short-term debt, less cash
and cash equivalents,  restricted cash and  short-term investments  (including 
those held as part of asset/liabilities  held for sale), divided by (B)  total 
equity.

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Source: ArcelorMittal S.A. via Thomson Reuters ONE
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