ACL - ArcelorMittal South Africa Limited - Structural failure at Newcastle

ACL - ArcelorMittal South Africa Limited - Structural failure at Newcastle      
facility                                                                        
ArcelorMittal South Africa Limited                                              
(Incorporated in the Republic of South Africa)                                  
Registration number: 1989/002164/06                                             
Share code: ACL & ISIN: ZAE000134961                                            
("ArcelorMittal South Africa" or "the company")                                 
WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT: STRUCTURAL FAILURE AT NEWCASTLE FACILITY 
Shareholders are referred to the announcement dated 12 August 2011, informing   
them that a structural failure had occurred in the gas cleaning plant at        
ArcelorMittal South Africa`s Newcastle facility, which resulted in the dust     
catcher partially collapsing.                                                   
At this stage, the repairs are progressing according to plan. Installation of a 
new cyclone which has arrived in South Africa from one of our sister plants in  
France, is expected to be completed at the end of November 2011 with            
recommissioning of the furnace planned for the first week of December.          
The company has updated its calculations and the latest estimate is a loss of   
445 000 tonnes as a result of the incident.   To minimise product shortage in   
the local market, we have secured about 240,000 tonnes of steel from various    
sources - including from  ArcelorMittal Group mills worldwide. These products   
are expected to be available to the local market from mid-October.              
The financial loss at this stage is estimated at R1.1 billion which includes    
property damage of R245 million.  The company is working closely with its       
insurers and loss adjusters to prepare the claim which will be finalised once   
the actual repair cost and consequential losses are known.  The deductible on   
the claim will be  US Dollar 45 million.                                        
Shareholders are advised that as the estimated financial impact of the incident 
has been provided, caution in respect of the structural failure at the Newcastle
facility is no longer required to be exercised by shareholders when dealing in  
their securities.                                                               
26 September 2011                                                               
Vanderbijlpark                                                                  
Sponsor                                                                         
Deutsche Securities (SA) (Proprietary) Limited                                  
Date: 26/09/2011 17:03:01 Supplied by www.sharenet.co.za                     
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