boldspiritLaunch Edition | Summer 2007

18 The big event: Cannes20 Championing the brand30 Poland: Investments for the future36 Are you made of ArcelorMittal steel?

01boldeditorial

New beginnings...10, 9, 8… the last month has been one big countdown to a series of launches – the brand, the advertising campaign, the websites, the corporate movie and now – the launch edition of boldspirit – the new ArcelorMittal magazine expressly designed to communicate more directly with you.

What is happening within the company and in the steel industry today? Who are the people in our ArcelorMittal global community? What events are occurring that you should be aware of and what initiatives are paving the way to a brighter future?

boldspirit, which will come to you quarterly plus one special issue a year, forms part of an integrated suite of corporate communication tools that include www.myarcelormittal.com, www.arcelormittal.com, regular intranet newsletters and ArcelorMittal Web TV, all created to work in tandem to keep you informed in a dynamic and efficient fashion.

Everything you need to know about the new brand… (and please don’t be afraid to ask)It is a fact that some people don’t understand everything about branding, its added value and the huge amount of work that goes into a global branding campaign. So in our first issue, we focus on every aspect of the newly launched brand. To some, it may seem like a string of parties, but the behind the scenes reality of launching a brand for one of the world’s largest companies includes sleepless nights, last minute upsets, stressful deadlines, translations, logistics’ nightmares, and teamwork, teamwork, teamwork!

The brand is at the heart of everything we do and say and act as a company, and that includes this special issue of the magazine. We dedicate 15 pages to an analysis of all aspects of the brand – the values, the logo, the purpose of branding plus interviews with the key players: from the agencies who assisted in the launch to the Brand Champions who will deploy the brand to all of your locations. We also take you to the big events in Paris and Cannes* where the brand was first launched.

Boldness really can change everything. We named our new magazine with every one of us in mind. Together, we can transform tomorrow. Enjoy…

* To view more photos, go to www.myarcelormittal.com

“ Whatever you can do, or dream you can, begin it. Boldness has genius, power and magic in it!” WH Murray (1840-1904)

We dedicate 15 pages to an analysis of all aspects of the brand – the values, the logo, the purpose of branding plus interviews with the key players: from the agencies who assisted in the launch to the Brand Champions who will deploy the brand to all of your locations.

boldcontents

Nicola Davidson, Director of PublicationStefan Schwarz, Editor in ChiefMary Carey, Editor in ChiefEwa Gebala, EditorRaquel Córdoba, Editor

ArcelorMittal photo library credits: Vytas Beniusis, Pierre-François Grosjean, Daniel Jamme Millau to CEVM, Sir Norman Foster, Daniel Mansur, Wolfgang von Brauchitsch

Patil Ashok, Daniel Atlan, Edwin Basson, Stéphanie Blanchard, Cédric Bouzar, Amit Chhabra, Tami Didiza, Sylvie Gindre, Laurent Guerra, Caline Jacono, Paul Junck, Dorothee Kohler, Monique Kraemer, Elena Krashakova, Jean Lasar, Katrien Lefebre, Richard Leijnse, Sandra Luneau, Dirk Matthys, Monique Muller, Sylvie Petetin, Michael Pfitzner, Laura Podlesny, Carole Poull, Nathalie Premont, Claudio Reis Souza, David Sadler, Luc Scheer Martine Scheuren, Vanessa Schlemm-Bode, Peter Shearlock, Bill Steers, Raj Takhar, Selina Vaccarino, Petra Van Den Helden, Cecile Van Den Hof, Sylvie Vernedal, Mario Villamiel, Elize Zywotkiewicz

Editors

Photo Library

Contributors

boldspirit is your magazine so we would like to hear from you: Comments? Contributions? Questions? Contact us at editorial@arcelormittal.com

Have your say

06 08 22 37

03 boldmessage Mr Mittal sets the tone

04 boldleadership Management on board

06 boldleadersspeak Interviews: Michel Wurth

and Bhikam Agarwal

08 boldfeature Building a better brand

16 boldlaunch Why do we need branding?

21 boldsafety Health and Safety Day

22 boldstep Boldest step of all

23 boldcommunication Communication sans frontières

24 boldaroundtheglobe Segments in the spotlight

28 boldbusiness Robust and cash generative

29 boldspotlight Twinning plants

30 boldfocus Site of the month – Poland

32 boldfacts ArcelorMittal in numbers

33 boldinitivatives Eye on the future

34 boldmedia ArcelorMittal in the news

36 boldquiz Are you made of

ArcelorMittal steel?

37 boldinterview A relaxed moment with...

Lakshmi Mittal

Fanny Bécue, Perrine Henrion, Filip Kuźniak, Ian Louden and Matthew Buckhurst (FutureBrand), Rafael Mendoza, Françoise Pesch, Adam Penny (ConnectedPictures), Olivia Robin, Charlotte Rodaway, Marion Saül, TBWA, Xanthe Hynds and Carlo D’Alanno (Thoburns)

And remember to: “Put a grain of boldness into everything you do” Baltasar Gracián (1601–1658)

Special thanks

02/03boldmessage

Mr Mittal sets the toneIf anyone personifies the definition of boldness, then it is Mr Lakshmi Mittal himself, ArcelorMittal President and CEO. Here he speaks about how we can all catch his dynamic spirit and work together to make our brand a global success.

Welcome to the first edition of boldspirit – the new quarterly magazine for ArcelorMittal. After attending the company’s first leadership conference in Cannes, I felt as motivated as I ever have in my career. Integration is going well, the market environment is good and the opportunities for our company are considerable.

Cannes was also the venue for launching the new ArcelorMittal brand, and I was delighted by the reception it received. ArcelorMittal is today one of the 50 largest companies in the world, as well as the undisputed leader in the steel industry. As such, our brand is of vital importance. It represents the core of everything we do and say as a company. It is a critical component in helping us build upon our reputation as the most admired steel company in the world.

To help us do this, everyone in the company needs to not only be committed to bringing the brand to life, but firstly to understand fully what it means and how it should be translated into action, behaviour and performance. Therefore, the main focus of this first edition of boldspirit is the new brand, its vision and values.

ArcelorMittal is already a great company. We are the leader in our sector with a unique and diversified profile. We have been a driving force in creating a new sustainable model for the industry.

We are the blueprint for the business model of the future and play a meaningful role in the world’s economy. The product we make is an intrinsic part of building the modern world around us.

This is an excellent starting point for our new company and one of which we should all be

proud. But it does not mean that we have realised our full potential. On the contrary, the creation of ArcelorMittal has opened up many more opportunities for us to continue to build on this position in a responsible manner.

The brand strategy for the new company is ‘transforming tomorrow’. What does this mean? It means we are ready to build on the position we enjoy today. It means we are committed to setting globally recognised standards by managing our growth and our profits with the needs of future generations in mind.

How will we achieve this? By upholding our three chosen values: Quality, Sustainability and Leadership. These values should be at the core of every decision we make as a company.

I have just returned from New York, where I made a speech at this year’s Steel Success Strategies Conference*. I said that the new period of stability the industry has entered into calls for a new area of focus. That focus I believe should be on quality and sustainability – two of our three values. And what will take us there? Leadership.

The industry’s behaviour and actions over the past years have been driven out of a need to restructure to survive. Now we have ensured our survival, we need to focus on delivering the optimum results to our stakeholders.

We have to start benchmarking ourselves against the leading manufacturing companies, who put quality at the heart of everything they do. We need to start thinking like a service company, being customer-led and innovative rather than supply driven. Our chosen values reflect this new approach, which I believe will enable us to take our success to the next level.

A key element of ArcelorMittal’s creation has been a willingness to go against the grain – to make bold moves. Boldness has been a component of the company’s past success. As such we want to harness it as an important part of the company’s approach and spirit in the future.

If you look at the world’s most successful and visionary companies, their history is paved with ground-making moves. Boldness is an essential part of progress. This is what we have sought to capture in our new advertising campaign, ‘Boldness Changes Everything’ – featured in this magazine. And hence the name of this magazine: boldspirit!

It is a big ambition to set out to ‘transform tomorrow.’ It will require a lot of hard work and commitment, but we are starting from a position of great strength. And our greatest strength is our people. By which I mean all of our 320,000 employees around the world. We can have as many visions and missions and strategies as we like, but nothing is achievable without you.

Together, I believe we can ensure this company continues to thrive and to move forward. Together we can work towards building ArcelorMittal into one of the most admired businesses in the world.

Lakshmi N Mittal, President and Chief Executive Officer

* You can read the full text of the Steel Success Strategies Speech at www.myarcelormittal.com and www.arcelormittal.com

In a series of announcements over the latter half of 2006, the management structure for the combined Group was announced. Designed to create an organisation that combines scale with agility and provides a new industry benchmark for customer service, the management reflects a balance of appointments from each of the predecessor companies.

Gonzalo Urquijo encapsulated this best of both worlds advantage of the new ArcelorMittal culture, when he said:

“As the wealth of know-how around the Group was shared, the integration process created a new culture. It is not that of either the old Arcelor or the old Mittal, but something unique to itself. Neither side imposed its way of doing things on the other. This really was a merger of equals.”

Keeping it leanThe structure of the company’s organisation is deliberately lean. The aim is to foster a bold entrepreneurial spirit that will keep ArcelorMittal ahead of the competitors while ensuring it satisfies its customers’ most demanding requirements, both now and in the future.

At the very top of the organisation is an 18-member Board of Directors. Representing all stakeholders, the Board of Directors is responsible for the overall supervision of the company.

Board of DirectorsThe announced composition of the Board of Directors for the ArcelorMittal Group is:

• Joseph Kinsch Chairman of the Board of Directors

• Lakshmi N Mittal President of the Board of Directors

• José Ramón Álvarez Rendueles (Independent)

• Edmond Pachura (Independent) • HRH the Prince Guillaume

of Luxembourg (Independent) • Sergio Silva de Freitas (Independent) • Jean-Pierre Hansen (Independent)• Vanisha Mittal • Wilbur Ross • Lewis Kaden (Independent) • François Pinault (Independent) • Narayanan Vaghul (Independent)

Shareholder representatives • Georges Schmit (Luxembourg State) • Antoine Spillmann (JMAC) • Romain Zaleski (Tassara)

Employee representatives • John Castegnaro • Michel Marti • Manuel Fernández López

Among the Board’s roles is the appointment of the Group Management Board (GMB), which manages the strategic direction of the business. The composition of the six-strong GMB, which is headed by Lakshmi Mittal, who assumed the role of Chief Executive Officer in November 2006, reflects the Group’s new structure – which is divided into five key business segments:

• Long Products, ArcelorMittal Steel Services and Solutions, Distribution and Wire Drawing – headed by Gonzalo Urquijo

• Flat Europe, Auto, Plates, R&D, Packaging – headed by Michel Wurth

• Mining, Asia and Africa, Stainless, Pipes and Tubes – headed by Malay Mukherjee

• Finance, Mergers and Acquisitions, Flat Americas – headed by Aditya Mittal, Chief Financial Officer

• Performance Enhancement, Human Resources, Health and Safety, the Environment, Commercial Coordination, Marketing, International Relations, Sustainable Development and China – headed by Roland Junck.

Managementon board

With the new brand officially launched, everything is in place – the structure, the leaders, the team and the objectives – to ensure that ArcelorMittal achieves its ambition to be one of the world’s most admired companies.

boldleadership

The management is designed to create an organisation that combines scale with agility.

04/05

Management CommitteeAll GMB Members also sit on a Management Committee (MC) – all of whom hold the position of Executive Vice President.

A spirit of opennessIn our new company, the management style is transparent. Within the framework of this spirit of more open communication for example, since the end of 2006, the corporate communications team has been publishing on a regular basis on the intranet a summary of the main points of the weekly GMB meetings.

At the Leadership Conference in Cannes, Mr Mittal was asked by one of the top managers in an open Q & A session, “What nationality is ArcelorMittal?” Lakshmi replied that with a headquarters in Luxembourg, corporate offices in London, Rotterdam, Paris and Madrid and a presence in around 60 countries around the world, the company is a true example of globalisation and does not have a nationality. This is clearly evident in the composition of the Board of Directors, the GMB and the MC, all truly international in character as befits a multinational Group.

118 million tonnes of steel produced worldwide: geographical breakdown of ArcelorMittal production in 2006

1. US and Canada 22% 2. Central and Eastern Europe 18% 3. Western Europe 34% 4. Latin America 9% 5. Africa 7% 6. CIS and Central Asia 10%

“ As the wealth of know-how around the Group was shared, the integration process created a new culture. It is not that of either the old Arcelor or the old Mittal Steel, but something unique to itself. Neither side imposed its way of doing things on the other. This really was a merger of equals.”

1

2

3

4

5

6

boldleadersspeak

Q: Mr Wurth, in your opinion, what are the main benefits of the merger for customers?MW: “Take Automotive as an example. We are developing a unique capability to provide our customers with standard solutions worldwide. With plants sited close to theirs, we are in a position to support their worldwide developments, pretty much wherever they may be. And with a combined $200 million Research and Development budget, our customers can count on us to be even more innovative in the future – not only in the automotive field, but in packaging, home appliances and many other markets.

Q: What gains do you think were derived internally from the integration?A: There are a host of gains – from improved logistics to better sourcing, cross-selling and so on. Perhaps it is the rapid transfer of best practices that is the best example of internal gains. For instance, in Eastern Europe each steel shop, each hot rolling mill, each production line has been twinned with a counterpart in Western Europe. Through exchanges of personnel, best practice is being absorbed in a very rapid – and unbureaucratic – fashion.

Q: What challenges do you see in the marketplace?A: We had anticipated a market slowdown in the fourth quarter of 2006. In fact, the environment was a lot more benign than expected. The first quarter of 2007 – especially in Europe – has continued the trend and 2007 should remain strong in our region. Nevertheless, we need to stay alert as the demand for steel products is more volatile than the global economy and ready to adapt our supply in all circumstances. We also need to restore the profitability of our packaging operations, and we will face a number of challenges as we seek to restore our market share in flat products in Western Europe in general and in Germany in particular, strengthen our leadership position in Central Europe and develop markets further East.

But with the combination of high quality in Western Europe, a low cost base in Eastern Europe and an extensive service and distribution network through AM3S, we have a very strong offering.

Q: What was your reaction to the Leader-ship Conference in Cannes and what is the most important thing that you and others gained from the three day event?A: The launch of the brand in Cannes was really the definitive starting point of our new company. I believe that same feeling was shared with the leaders who attended the Conference. It was communicated through the programme and through the networking which occurred between the top 500 managers from all across the globe.

The result was that by the end of the three day event, ArcelorMittal emerged as one single team.”

In our premiere issue, boldspirit speaks to Michel Wurth, Member of the Group Management Board, Responsible for Flat Europe, Automotive, Plates and R&D (Research and Development), about the advantages of the new ArcelorMittal company.

Interview with GMB Member Michel Wurth

“ We are developing a unique capability to provide our customers with standard solutions worldwide. With plants sited close to theirs, we are in a position to support their worldwide developments, pretty much wherever they may be.”

06/07

Q: Mr Agarwal, in your opinion, what are the main benefits of the merger for customers?BA: “There are several benefits. One is that our company now has a single face and this is very important. Our expanded size and geographical presence means that customers can rely on quality and on-time delivery. Basically our concept is one of partnership; with the merger we have an alignment of products and services and a stronger larger network. The increased Research and Development will also be a great advantage.

Q: What gains do you think were derived internally from the integration?A: Internally what we have is a benefit of aggregation, the advantages that come with a company on a larger scale. We also can leverage knowledge exchange. With plants around the world, in South and North America, Asia, Africa and Europe, there is a wealth of experience to share. Even a small plant can contribute significantly. We can also expect our quality to go up while at the same time cost will improve. The investment rating of the Group is now very good and there is no reason for it not to stay strong across the segments.

Q: What challenges do you see in the marketplace? A: The customer might be a bit apprehensive at first because suddenly instead of two suppliers there is now only one. What this means is that they will be watching us, as well as suppliers, the media and the public, to see if we mean what we say. Is the message there? They will be watching to see if we act and communicate in a friendly or an arrogant way for example, and to see if we have solved our integration issues.

In the last nine months we have really been on the road and speaking with the customers and our investors. I think we are on the right track and it is just a matter of time. Within a year of date from when the merger was finalised we should be able to show everyone that we really mean business. We are a straight and honest company and we want to continue to develop this transparent company culture. We know that people want more communication and more frequent communication but in the end actions really do speak louder than words.

Q: What was your reaction to the Leadership Conference in Cannes and what is the most important thing that you and others gained from the three day event?A: What really came across was a sense of achievement. I have the pleasure of being Mr Mittal’s very first ‘employee’. I have seen this company go from a humble beginning to becoming the world’s largest steel company through the merger with Arcelor. Our new combined Group has turned the industry around. Reaching almost 100 billion in sales is a big achievement!

Cannes gave us an opportunity to consider the many things we have to be proud of. It is not just because we are the biggest, but also because of our Corporate Social Responsibility (CSR), our quality and style of management and many many other things.

What the leaders came away with was this sense that we are not a traditional steel company; we are a little bit different. We are bold, but this does not mean we are rash. We do our homework. All these things really came across at the Leadership Conference.”

boldspirit speaks to Bhikam Agarwal, Member of the Management Committee, Responsible for Financial Controlling and Reporting.

Interview with MC memberBhikam Agarwal

boldfeature

Building abetter brand

08/09

When the decision was made to develop a new brand after the merger, everyone involved knew that it would be no small undertaking. Here, boldspirit presents the stages of the journey, and introduces the key elements of the new ArcelorMittal identity.

Building abetter brand

Sustainability QualityLeadership

boldfeature

Branding has to achieve 3 things to be successful. Firstly, it has to identify and capture the purpose, vision and values of the company. Secondly it has to communicate this throughout the organisation. And finally it has to bring it to life throughout aligning the brand with the short-term and long-term approach of the company in every aspect of its business.

What is ArcelorMittal’s brand vision? ‘transforming tomorrow’. What is our ambition? To redefine the steel industry. We are committed to setting globally recognised standards and managing our growth and profits with the needs of future generations in mind. How we will achieve this ambition? Through our three stated values and by being bold.

It can sometimes seem to people that branding is just a bit of graphic design, but this is far from the truth. Branding is about communicating a personality and not just moving around graphical elements.

There are so many people, experts in various disciplines – such as graphic designers and communications experts (internal, external) that were a vital part of the ArcelorMittal process. There was also input at the highest level – the GMB (Group Management Board) and the MC (Management Committee), as well as tremendous input from the ArcelorMittal people.

All these elements played an essential part. Now is the point where it has all been pulled together and launched to the world…

The logo is the visual language, but if you remove the logo, people will still recognise ArcelorMittal for the company it is.

transforming tomorrow: We know that our position in the steel industry brings unique responsibilities. We are committed to setting globally recognised standards with the needs of future generations in mind.

10/11

Anthony Old, Global Branding Manager, has been a key member of the branding team, which is no easy feat. He is well aware that when people see the final simplified fruit of all this behind the scenes labour, they might not realise how much work went into defining this identity, and how many people were involved to get it just right.

“The important thing to stress is that the new branding is not just about the logo,” says Anthony. “It goes deeper than that. It is about the values and the philosophy that underpin it. Our new brand is representative of our aspirations and ambitions, where we see ourselves in the future…”

Anthony says that our identity is like a personality that is expressed internally and externally, something that every ArcelorMittal person can be excited about. “It should be motivating, make people feel positive and inspire forward thinking.”

An investigative journeyThe point up until now has been creating this brand, which is a much more complicated and exhaustive process than many people realise. It has been a long journey involving much investigation to respond to the following questions: Where do we want to go? Who do we want to be and how do we want to be perceived?

“Today,” says Anthony, “ArcelorMittal exhibits not just size and scale, but resilience, strength and growth. We have a unique profile and a clear strategy.” We are the only truly global steel producer, with a leadership position on four continents. A quarter of our production comes from plants that figure among the lowest-cost producers in the world. Together with a high degree of exposure to stable markets and long-term contracts, this leaves us well placed to deliver sustained profitability and high cash-flow generation.

For ArcelorMittal, leadership is an important part of the organisation, as is a strategy for business that is sustainable.

“The logo is the visual language, but if you remove that logo, people will still recognise ArcelorMittal for the company it is. Think of other global companies whose identity is clearly defined and expressed such as British Airways. Even without their logo you know who they are and what they stand for, the company behind the logo.”

“The most visionary and admired brands are those which strongly communicate a sense of purpose, values and approach and deliver consistently against that.”

SustainabilityWe are guiding the evolution of steel to secure the best future for the industry and for generations to come. Our commitment to the world around us extends beyond the bottom line, to include the people in which we invest, the communities we support and the world in which we operate. This long-term approach is central to our business philosophy.

QualityWe look beyond today to envision the steel of tomorrow. Because quality outcomes depend on quality people, we seek to attract and nurture the best people to deliver superior solutions to our customers.

LeadershipWe are visionary thinkers, creating opportunities every day. This entrepreneurial spirit brought us to the forefront of the steel industry. Now, we are moving beyond what the world expects of steel.

Our new brand reflects who we are as a company now and where we are headed tomorrow, but whittling all that ArcelorMittal stands for down to a razor sharp identity is a complex process. As Mr Mittal said at the Leadership Conference in Cannes, “Our logo is a diamond that responds to 52 facets.”

Interview with Anthony OldGlobal Branding Manager

Why do we need branding?

boldfeature

A good brand builds a strong emotional connection between the customer, the public and the company’s name. A company’s message is easier to express when it has a recognisable brand. Think about some of the world’s most visible companies. All you need to do is mention the name or show the logo and people around the globe have an immediate perception and expectation of what that company stands for.

At the Leadership Convention in Cannes, Nicola Davidson, Head of Corporate Communications, spoke to the audience about brand and reputation.“Our brand clearly defines and represents what ArcelorMittal’s purpose and vision are, and the values we stand for: sustainability, quality and leadership. Our ambition is to build a steel industry for the modern age, one that is focussed on customer and stakeholder satisfaction.”

“The brand should create and drive consumer preference. Add value to the bottom line. It should express the truth about ArcelorMittal – that it is not just a business to be successfully commercial but also one to lead the industry.”

But why, some people may ask, does a steel company need branding? It isn’t a shampoo with a hundred other competitors.

“We are uniting the two companies. This is a new steel company that is transforming the entire industry and one of the largest companies in the world. The brand creates unity and motivation. It makes clear the standards under which we wish to operate.”

In the particular case of our merger process, both Arcelor and Mittal were companies with well-known histories and quite different cultures.

“Both had strengths and weaknesses,” said Nicola. “By uniting the two into a brand new company, we hoped to harness the strengths and remove the weaknesses. To do this, we needed to clearly define what this new identity or brand would be. The next step was to develop an energetic visual logo that would symbolise the new brand’s values. It wasn’t an easy task, but I think we have been successful. The important thing is that with the new brand, we’re not thinking about yesterday anymore. Now we are focussed on what we can achieve in the future.”

Benefits of a strong corporate cultureA brand is really the personality and approach to business of a company, the organisation’s DNA. Once the personality, or culture, is defined, then the logo, images, colours and other marketing messages will follow. In his presentation, also at the Leadership Conference, Aditya Mittal, CFO, GMB Member, Responsible for Flat Products America, spoke extensively about our corporate culture. “Building a company culture takes time and significant effort but brings value,” he said.

Our brand is the DNA of ArcelorMittal, something that binds all of us together. A brand with which we can all identify allows us to look forward to achieving our ambition to become the world’s most admired steel company.

“ The brand unites the two companies. Creates unity and motivation, and makes clear the standards under which we wish to operate.”

12/13

“Building a company culture takes time and significant effort but brings value.” Two of the people at the heart of the branding process explain why it is important to be one company and to move forward as one.

Interview with Aditya Mittal and Nicola Davidson

Culture of responsible leadershipDefining a company’s culture helps to clarify how we will work together. “It makes communication easier,” said Aditya. “It creates great team cohesiveness and high employee morale, and it also allows for people to grow and develop and achieve personal goals. A company’s culture affects everything in it — culture or ‘the way we do things around here’ is the real bottom line.”

In his presentation to ArcelorMittal’s leaders, Aditya also made the case that a company with a well-developed culture is better positioned to outperform competitors. “We are one company with a shared vision, mission and values. We want to build a unified seamless culture across the company that will enable us outperform our peers.”

“The logo is simple, straightforward and dynamic, but it’s not just about the logo. It’s about what the company stands for behind that logo. It’s sustainability, it’s quality and it’s leadership,” he said.

“Last August, the whole world was wondering if we could integrate these two companies,” he said. “In Cannes, we had the whole diverse community of leaders in one room – 52 nationalities. I asked them how, compared to our expectations in August of 2006, they felt the integration process had been: was it easier than expected, as expected or harder? The result was phenomenal: over 50% felt that the merger had been as expected or easier.”

“Our task now is to take this new culture and to live it, to breathe it and to exercise it. We should now all feel a part of this company and what it stands for: transforming tomorrow.”

“ It makes communication easier,” said Aditya.

“ It creates great team cohesiveness and high employee morale, and it also allows for people to grow and develop and achieve personal goals. A company’s culture affects everything in it – culture or ‘the way we do things around here’ is the real bottom line.”

FutureBrand, the company that claims, “Creating a brand takes discipline and sometimes some tough love”, are the brand identity consultants for ArcelorMittal.

Interview with Ian LoudenThe role of FutureBrand (or the A-Z of a branding exercise)

The combination of Mittal Steel and Arcelor, the top two steel companies in the world, was a bold step towards consolidation of the steel sector and a further step towards achieving a sustainable operating environment for the steel industry. Yet some industry watchdogs were sceptical that the two companies were ideally suited partners. Our new brand had to say how together we represent so much more than the simple sum of our parts. ArcelorMittal is a new company which is amongst the largest and most global in the world. Ensuring that the world understands this, and that ArcelorMittal people feel this, meant defining the new identity with the help of experienced specialists in brand strategy and innovation.FutureBrand’s participation really started over two and a half years ago when they developed the Mittal Steel brand. Then, in the summer of 2006, Ian Louden, Client Director, was informed after the Mittal bid for Arcelor that there would be a pitch to develop a strategy and a visual identity for the unified company after the merger. “Three or four major players, all global brand identity companies, pitched against us,” says Louden. “We decided to be brave and we went in with one idea, and we were very passionate about that idea. With good work, and a bit of luck, we won the project.” From this point on, they were the brand identity consultants for ArcelorMittal.

Discovery phaseThe first piece of work was the discovery phase, where FutureBrand conducted about one hundred face to face interviews within both companies. “I personally went to Brazil and interviewed six people; others went to the US, Liège and Hamburg. And of course we conducted many interviews in London and Luxembourg.” This enabled them to get a very representative understanding – from mostly senior management – of people’s feelings about the merger – what was good and what was bad.“We ran an internet survey,” Louden continues, “in which we received 8,850 replies from ArcelorMittal employees.” This provided them with some very strong data. “We also did face to face interviews with journalists, customers and analysts as well as desk research into the identities of the competition.” This resulted in a very thorough investigation of opinions and opportunities. FutureBrand then synthesised this information into a presentation with unattributed quotes which reflected the various perceptions. “From all this we saw a number of different concepts. We discussed the pros and cons and entered into debates about the various aspects.” One strong issue was the consolidation strategy. Both Mittal and Arcelor had been pursuing a goal of “moving steel away from being a sunset industry and into a brighter future” towards an industry with higher rated stock, which attracted the best MBA graduates and more investment.

The other issue was the concept of sustainability. “Of course there is the narrow concept of the environment, but we were thinking about a broader vision,” explains Louden. “This involves the long-term sustainability of the steel industry and so naturally must take into account the environment, but future strategies for business as well.” Coming out of this ‘positioning’, they developed the core idea of the eventual strategy or the brand promise: transforming tomorrow. “Our three values describe how we will transform tomorrow. Boldness is the attitude that we will use to make it happen.”

The brand promise: transforming tomorrow. “Our three values describe how we will transform tomorrow. Boldness is the attitude that we will use to make it happen.”

boldfeature

BoldMessage

What’s in a logo?

Ian Louden, Client Director, FutureBrand says that to create a logo, they take the intellectual idea, and try to think how to express that idea through the communication activities of the company – for example, the actions the company takes, the activities it sponsors, its tone of voice, how is it viewed in the press etc. “Visualisation is an important part,” he says, “but not the whole thing.”

The brand Identity will communicate a powerful notion about the organisation by representing the core brand values. Over time it will serve as a focus against which the company can continue to achieve its ambitions. A strong brand is about using the visual language to shape the way we engage and relate to the audiences we need to communicate to effectively and consistently.

By creating a vision of one name one brand, we gather strength by being able to really build on the reputation of the company and deliver on promises in a unified way to both employees and external audiences.

In short, the brand is a factor that will influence actions. With commitment, it will add enormous value to the organisation’s capital worth as has been proven in many listed companies on the stock market today.

Interestingly, when people think about brand identity they tend to think immediately about things like the logo, colours and typeface. “We call these the core components”, says Louden. “But for us, the palette is much broader,

including the style of the photography and illustration that is used for the brand. Next, what about layout – will it be spare white spaces or will it perhaps be more busy?” All of these things come together to form what Louden calls the ‘visual language’ of the brand.

He says they have built in what they call “the thumb test”. This is when a company’s identity is so strong that you can cover the logo with your thumb and still know who the company is (like Apple or The Gap).

Originally, FutureBrand created well over 50 original concepts in order to explore the various possibilities. “We had six or seven designers – some junior, some senior, trying out different options.” From this they arrived at about six and worked those up over a few more days. Then they whittled the choices down to three and came up with the full presentation “applying the kit of parts” – websites, work-wear and signage – the full and representative range of applications, so that they could be viewed subjectively.

“We developed three logos,” he says. “One was a clear favourite, but we had to prove that it was applicable for every situation.”

The essential sparkA logo has to respond to an extensive range of demands at the same time. It has to be high-tech and it has to be simple. It has to work when a man is sent up a ladder to paint a logo on a storage tank in Kazakhstan as

well as on sophisticated websites. It has to be economical to implement while still communicating the energy and dynamism that is ArcelorMittal, or as Louden puts it, “the essential spark that burns in a company that is infusing the steel industry with new life.”

The logo then had to be codified. 72 Brand Champions met with FutureBrand and Corporate Communications in April 2007, and they were briefed on the online resource – a website where the Brand Champions can download all the information that they need. “This website will also include a Community Forum for the Brand Champions. This type of direct communication is right in line with the ArcelorMittal attitude.”

To understand the scope of implementing the new identity, you have to consider the extent of updating all of the ArcelorMittal communications tools to conform to the branding: business cards, stationery, trucks etc. The signage alone, all around the world, could take up to a year or two. With such heavy ticket items, there is a coordinated global plan for implementation in a consistent way – with the added advantage that in this case, implementation will not only be stronger, but also cheaper.

So the next time you see the ArcelorMittal logo, reflect on how much was analysed, and how many people worked hard, to arrive at one simple element that says it all in one swift, unique little signature.

Contrary to what people sometimes imagine, brand identity consultants do not suddenly think “okay let’s go and design a logo.” It is much more like trying to put everything about a global company on the head of a pin.

14/15

The ArcelorMittal signature is unique to the company, just as an individual’s handwritten signature is unique to them. Designed to suggest the transformational energy that characterises the company, the signature’s dynamic and iconic form reflects ArcelorMittal’s leadership position in the steel industry.

Our new brand is what ArcelorMittal stands for, what it intends to achieve and by what values and guiding principles we are going to operate.

boldlaunch

16/17

The challenge: to merge two business cultures, creating one new single identity and to motivate everyone to work together towards one common goal. The result of a year of hard work: a new brand with which we can identify, a new company of which we can be proud.

The objective of the first Leadership Conference of the new company was to build a community of leaders and get input from 500 of the top managers in the Group. It also provided the perfect opportunity to internally launch the new brand.

What was evident through the entire event’s presentations was the value placed on honesty and the spirit of transparency, as a single new and unique corporate culture emerges.

Right from his introductory speech, CEO and President Lakshmi Mittal invited people to participate actively in the discussions. “Don’t be afraid to speak openly,” he said. The point of the conference was to interact and share experiences, but also to ask questions.

In this same spirit of two way communication, a website was set up in advance of the conference. Delegates were asked what it was they most wanted to get out of the event. The most common requests were: “a better understanding of the company vision” and “more information on a strategy for the future.”

During the speeches and presentations all of the delegates had access to electronic voting and could use these devices to send instant messages. Questions were posed by the speakers with multiple answers and the responses could be viewed by everyone in a matter of seconds, adding relevance and feedback to the various topics.

Naturally the issue of leadership itself, one of our main values, was a major theme. The focus was not just on ArcelorMittal’s leadership within the steel industry, but also the importance for the 500 present to understand their responsibilities. “Continuing to build and enhance our profile will be an important element of delivering our strategic aim to create a sustainable business capable of delivering value through the cycle,” said Mr Mittal.

“To do this to the optimum, and to ensure that we continue to retain our competitive advantage, we will need to continue to demonstrate leadership and not lose the qualities which made us the company we are today. We must work hard on ensuring this does not happen. Our culture must be based on maintaining leadership.”

Launch of the brandThe new corporate movie, which is available on the ArcelorMittal website, was played for the audience. At the end of the film, the new logo was unveiled in a spectacular fashion, earning a rousing standing ovation. Some eyes were not entirely dry. The new ArcelorMittal global advertising campaign was also revealed. The rollout of the new brand will occur throughout ArcelorMittal and across the globe over the next twelve months.

The agenda for the three days was tightly packed, and included a series of presentations, round tables, panel sessions and table discussions.

boldlaunch

The big event: CannesAs part of the Leadership Conference three day event, the new ArcelorMittal brand was launched in style to a very receptive audience on May 29 2007 in Cannes, France.

“ We are in a stronger position together to influence positive change in the future. We are moving towards an integrated and aligned company and this would not be possible if we were to continue working under the old Arcelor and Mittal logo.”

Lakshmi Mittal

Still images from the corporate movie.

“The brand was launched internally at the Leadership Conference, on May 29. This was significant because it was the very first Conference since the merger between the two legacy firms was announced in June 2006. The theme of the Conference was ‘transforming tomorrow’, as the brand and our new brand values underpin our entire business, its philosophy and strategy. The brand is at the heart of everything we do and say and act as a company.

We then launched the brand externally with our key stakeholders (clients, investors, regional allies and key opinion leaders) in Paris at the Musée Rodin (May 31) and in Luxembourg (June 1) at some brand launch parties. The objective was to introduce the new company ArcelorMittal and tell people who we are and what we stand for.

On June 4 we held a corporate internal brand launch party to celebrate the brand, with a festive BBQ at the Luxembourg Headquarters courtyard.

At local levels, our Brand Champions will also be holding some brand launch events in the coming weeks in order to introduce the new brand to the staff within their perimeter.”

Advertising campaign: ‘Boldness changes everything’On June 4, the brand was introduced to the general public through our new advertising campaign. This will unfold in two waves: the first is June – mid July, with a target audience of Fortune 500 types, our clients and future clients, the investment community (including our retail shareholder base), many of our stakeholders and employees, candidates, communities and partners.

“What I really like about this campaign,” says Laurence Ponchaut, “is that it moves away from the conventions regarding B2B advertising. It is not talking about our size, about the fact that our product is everywhere. We want to talk about us, our values and about what makes us different.”

Its aim is to answer the following questions: at ArcelorMittal, what do all 320,000 of us stand for, what do we believe in and how does that make us different?

The ads say a great deal about us and act in complement to the standard information that is readily available and already quite well established. By telling our audiences what we believe in, we’re offering them a new perspective about our new company. We’re giving them an insight into what makes us unique.

“‘Boldness changes everything’ is a claim,” says Laurence. “It states what we believe in. Other companies talk about boldness; we want to show its power. We want to capture it. Make it ArcelorMittal’s.”

The ‘Boldness changes everything’ spirit is meant as an invitation to others, for each and every one of us to feel empowered. The creative artwork showcases human achievements that are collective and that inspire. The images have been carefully chosen so as to avoid confusion between what we admire, what we aspire to, and what we do.

Why don’t we say we’re number one?“The new ad campaign does not talk about our size in the industry. Most people already know this. We want to stand for much more. Our size, though a decisive asset, is not what makes us special. We believe our company’s character, the values it stands for and its energy and vitality are more important features to communicate so that people can understand us, grasp our vision and relate to our ambition.

The purpose of the widespread campaign of course is to inform our stakeholders of the birth of our new company and increase the awareness and attractiveness of ArcelorMittal with its shareholders and all its stakeholders.”

18/19

Now that she has a moment to catch her breath after the mad pace of the last nine months during which time she and her team have been working on various elements of the new corporate identity, Laurence Ponchaut explains to boldspirit the rollout of the events in our brand launch.

Interview with Laurence Ponchaut, Manager of ArcelorMittal, Head of Corporate Reputation

“ ‘Boldness changes everything’ is a claim,” says Laurence. “It states what we believe in. Other companies talk about boldness; we want to show its power. We want to capture it. Make it ArcelorMittal’s.”

boldlaunch

Based on the guidelines provided by Corporate Communications, the Brand Champions are the people who will communicate the brand through the company at a local level. But what exactly is a Brand Champion and how will they facilitate deployment of the brand?

Tami Didiza is General Manager, Corporate Affairs, ArcelorMittal South Africa.

He says that “a Brand Champion is an internal and external story teller who spreads the brand vision, brand values and cultivates the brand in an organisation. Every organisation needs committed and passionate Brand Champions.”

Tami has experience, having been a Brand Champion for Mittal Steel South Africa for a number of years. He was instrumental in the rebranding of the company from Ispat Iscor to Mittal Steel South Africa in 2005.

Communicating a consistent messageHe says his many different tasks revolve around “ensuring we maintain our reputation and build the brand in line with our vision of becoming an admired global steel institution.” His day-to-day responsibilities include all external and internal communications as well as liaising with investors, media and government. All of these functions work towards building the company’s brand equity by communicating a consistent message about what the company stands for.

Deployment of our new brand will occur through the Brand Champions’ engagement with the stakeholders through all forms of communication channels to ensure a better understanding and “buy-in” of our brand.

In today’s environment, says Tami, it is no longer possible to just make a product and hope to sell it. “We live in a competitive environment where our customers are spoiled for choice,” he says.

“Brand Champions need to go much further in today’s world. We need to communicate to our customers in a way which is relevant, meaningful and engaging to them.”

Finally, in his opinion, how can ArcelorMittal employees help the brand succeed? “As committed and loyal employees, we all need to be good ambassadors of our company.”

For the full list of Brand Champions, go to www.myarcelormittal.com

How will the new ArcelorMittal brand be deployed within the company around the world? 72 Brand Champions will be responsible for this brand roll-out in every ArcelorMittal location.

Interview with Tami DidizaChampioning the brand

“ A Brand Champion is an internal and external story-teller who spreads the brand vision, brand values and cultivates the brand in an organisation. Every organisation needs committed and passionate Brand Champions.”

1 Discovery PhaseOctober – November 2006

2 Brand PositioningDecember 2006 – January 2007

3 Creating the Visual IdentityFebruary – April 2007

4 Developing the Brand Architecture and ImplementationApril – May 2007

5 Preview and Launch 1st Internal Launch Leadership Conference Cannes May 29 – 31 20071st External Launch – Paris – May 31 2007Luxembourg Launch New Internet and Intranet Site – June 1 2007Internal Corporate Launch – June 4 2007

6Deployment – Brand Champions and Local Implementation June 2007 onwards

On March 6 2007, ArcelorMittal held its first worldwide Health and Safety Day. The event was the first company-wide mobilisation, a clear sign of ArcelorMittal’s commitment to continuously improving Health and Safety.

Health and Safety Day a big success

boldsafety

The 320,000 employees and 140,000 sub-contractors who participated in events across the globe for the first ArcelorMittal Health and Safety Day gave clear evidence that this global company can cooperate internally on a grand scale. Employees from all segments and countries, from Spain to China and from Canada to South Africa, took part in workshops, training conferences, practical exercises and exhibitions on Health and Safety (H&S) topics.

The day was spearheaded by Lakshmi Mittal, President and CEO, and Joseph Kinsch, Chairman, who, along with members of the Group Management Board (GMB), visited sites around the world. But even Mr Mittal cannot be everywhere, so in many locations employees could view the H&S video as well as a speech by Mr Mittal, prepared especially for the day. Almost 1,100 DVDs with the video were sent to the various plants.

A progressive aspect of this event was that the next day, on March 7, ArcelorMittal employees worldwide participated in an online conversation about H&S issues. It was a bold move and representative of a new spirit of open dialogue, as employees asked many questions in a direct chat with GMB Members.

A daily concernCédric Bouzar, project manager, is the person who coordinated the day where hundreds of plants and operations promoted occupational H&S as the number one operational priority for every person in the company.

“The aim of the day was not only to demonstrate that ArcelorMittal places a high priority on H&S for all its employees,” says Bouzar. “The day also served to launch the new H&S policy which is also a group effort, created in consultation with employee representatives, doctors and safety professionals, and now applicable across the entire Group.”

The campaign for 2007 revolves around the concept that people in the steel industry are not as unbreakable as the products they create. A safety video has been created based on the concept that employees should use as much common sense at work as they would naturally use at home. A series of images illustrate the parallel between dangers that exist in everyday lives and dangers at the workplace.

A fundamental priorityThe basic principle of H&S is that there is always something that can be done to prevent an accident. Bouzar says that the most important thing for everyone to realise is that, while a specified day is fantastic for raising awareness, H&S is a daily concern.

This daily commitment is clearly reflected across the company. “We have said repeatedly that Health and Safety is a priority in the new company,” says Mr Mittal. “Every employee has an important role to play in achieving this.”

All ArcelorMittal employees can view and download the new ArcelorMittal Health and Safety Policy, the Group’s 2007 Action Plan, prevention campaign 2007 posters (currently available in 13 languages), graphic elements with guidelines, local site Action Plans, presentations, thematic training and risk awareness videos. www.arcelormittal.com/healthandsafety

“ The aim of the day was not only to demonstrate that ArcelorMittal places a high priority on H&S for all its employees,” says project manager Cédric Bouzar. “The day also served to launch the new H&S policy which is also a group effort, created in consultation with employee representatives, doctors and safety professionals, and now applicable across the entire Group.”

20/21

boldstep

The boldest step of all

On the first evening of the Leadership Conference in Cannes, France, the delegates were transported to the Château de Napoule, nestled next to the Côte d’Azur. As the 500 top ArcelorMittal managers enjoyed their dinner after the day’s full schedule, many were overheard mentioning how beautiful the moon looked on the clear spring evening. How fitting, they must have then thought, when they realised who their invited speaker for the evening was.

The boldness that separates usIntroducing Neil Armstrong, Joseph Kinsch, Chairman of the Board of Directors, prepared the crowd by saying: “It is the boldness that separates ArcelorMittal from our peers and enables us to reshape the steel industry. But one of the most audacious steps that ever happened was on July 20 1969.”

Armstrong greeted the audience, saying, “It is a delight for me to be here, to collaborate on the day of this exciting brand launch, to talk about what has been accomplished and to look to the future.” He then joked that “like some of you, I have a bit of experience with launches.”

Neil Alden Armstrong, born August 5 1930, is most famous for being the first human to set foot on the moon, and what courage that step took. According to Armstrong, it also took preparation, teamwork and leadership.

His first spaceflight was Gemini 8 in 1966, for which he was the command pilot. On this mission, he performed the first manned docking of two spacecraft together with pilot David Scott. Armstrong’s second and last spaceflight was as mission commander of the Apollo 11. On this famous ‘giant leap for mankind,’ he and Buzz Aldrin stepped onto the moon’s surface and spent 2.5 hours exploring while Michael Collins orbited above. Armstrong was also the project pilot on many pioneering high speed aircraft, including the 4,000 mph X-15. He said that for all his successes, there was a trusted team behind it all.

He spoke to the ArcelorMittal leaders about the value of preparation and teamwork, and the need to be flexible when things go wrong. “NASA is known for heavy procedures and check lists,” he said. “The ignition rules alone filled an 8cm thick binder. Yet in both launches, there were particular moments that were unplanned for and unexpected.” But because of careful planning, they still achieved their objectives.

“Quality is among the foundations of your transformation,” he continued, “one of your stated values. This is the most important element in any organisation – quality, and quality in leadership. There is no magic formula, the effective leader must be willing and able to adapt.”

Armstrong praised the bravery and the essential risks that go into any attempt to transform tomorrow. “Steel is a cyclical industry,” he said. “There are downturns and risks.” But he quoted Calvin Coolidge who said: “Nothing in this world can take the place of persistence.”

“There is no progress without risk,” Armstrong said, drawing a parallel to ArcelorMittal’s goal to effect change within the steel industry. As cliché as it may sound, you really could hear a pin drop as he recounted the details, risks and problems that occurred on the way to succeeding his ultimate mission. “Risk Management is currently the ‘new thing’ in business,” he said. Consider the Risk Management involved in putting people in a rocket to the moon. “This was a bold proposal.”

Introducing Neil Armstrong, Joseph Kinsch, Chairman of the Board of Directors, prepared the crowd by saying: “It is the boldness that separates ArcelorMittal from our peers and enables us to reshape the steel industry. But one of the most audacious steps that ever happened was on July 20, 1969.”

ArcelorMittal managers from around the world experienced something they will never forget: a chance to meet astronaut Neil Armstrong, who inspired them with a speech about the boldness it takes to transform tomorrow.

Neil Armstrong delivers his key speech at Cannes

22/23boldcommunication

In Luxembourg on June 4 2007, GMB Member Michel Wurth introduced the new brand and spoke in English about boldness to the 15 or 20 nationalities that were in attendance. Mr Wurth also mentioned that at the Leadership Conference in Cannes, there were more than 50 nationalities.

ArcelorMittal’s multinationalism is both an accomplishment and a challenge. How does one company get the right information to 320,000 in 60 countries? Often, for publications such as boldspirit, this means translating the original texts into a number of languages, or simultaneous translations for live presentations.

Setting new standards on the webAs of June 1, the new ArcelorMittal internet and intranet sites were launched with the same domain names as before, www.arcelormittal.com and www.myarcelormittal.com, redesigned with our new corporate colours and logo.

The internet site provides complete and up-to-date information about the company for the general public: journalists, investors, communities, clients, students, job-seekers and other stakeholders.

As for the intranet, it will continue to be your central portal for regularly updated information. Its main goal is to keep all ArcelorMittal employees informed about the latest events in our company, GMB activities, organisational issues, general news and press releases. The intranet contains more than 300 news items, publications and segment information, as well as business tools and applications: quick translator, instant meeting or Address Book.

Another initiative indicative of our new culture is the intranet’s Tell Us box. A small and dedicated team ensures that emails to the Tell Us box are carefully considered.

Questions are filtered and dispatched to the concerned Management Committee member for answers. The GMB is regularly informed about questions posted on the site, so as to make them aware of topics mentioned.

The web content team also works to keep people informed with newsletters. We have learned from your feedback and from statistics that you are listening. On the day of the official external launch of the brand, the intranet site beat its record of visits. The peak occurred only 15 minutes after an intranet newsletter with full details about the new brand was sent to more than 96,000 employees worldwide.

New world – new communication toolsOne of the most attention grabbing communication tools used since the beginning of the merger process has been the Web TV initiative Creating History www.arcelormittal.tv.

The site, a down-to-earth mix of news, articles and video casts, has captured honestly the fears, the concerns, and setbacks whilst also highlighting the good instances, achievements and successes.

This project was conceived to offer transparency for all ArcelorMittal employees as well as the general public about the challenges faced during integration. 14 initial video casts were created to follow this process up to brand launch. Stefan Schwarz, Head of Internal Communications, explains that the form chosen – a video blog – suited perfectly “our modern standards and the open exchange of opinions and ideas which characterises our company’s bold spirit.”* Join our multilingual boldness project. Email the word ‘boldness’ to us in your language at editorial@arcelormittal.com and we will post as many as possible on www.myarcelormittal.com

ArcelorMittal Web TV in numbers:757,000 visitors / 475,000 returning visitors / More than 2 million page views / A 15% increase of visitors every month / 5,000 subscribers to the RSS feed / 152,283 complete downloads of the videos / 17,050 views on youtube.com of the trailers

Audace – mutig – audacia – trau dech – in whatever language, or medium, you communicate boldness – ArcelorMittal people are catching the spirit across the globe.*

Communication sans frontières (communication without borders)

Segmentsin the spotlight

boldaroundtheglobe

boldaroundtheglobe is a regular feature that will highlight segment activity within ArcelorMittal. For our very first issue, following the launch of our new brand and global company, we thought it best to bring you some basic information about the what, where and who of the five business segments.

By now we all should know that ArcelorMittal is the global leader in the steel industry and well positioned to forge the ultimate phase of consolidation for more sustainability. Becoming a company of 320,000 people in more than 60 countries means we need to take some time to understand who we are, what the company is doing, where and how.

Did you know that ArcelorMittal is the leader in all the major global markets including automotive, construction, household appliances and packaging, with leading R&D and technology? The bold move to consolidate a world of activity under five business segments (as explained on page 4 of the management section) is having a positive effect on the Group.

Commenting on the Q1 (first quarter) highlights of 2007, Mr Mittal, President and CEO, said in May, “We have delivered a strong set of numbers for the first quarter with EBITDA of US $4.3 billion, higher than guidance. These results reflect the strength of ArcelorMittal’s global business model and the continuing strong demand for steel generally. The benefits of combining Arcelor and Mittal Steel continue to outperform our expectations and we are on track to deliver synergies as planned. Looking forward, we expect EBITDA in the second quarter to be higher than in the first, largely due to improved performance in Flat Carbon Americas, Long Carbon and AACIS. Our unique geographic and product

diversification ideally positions us to continue to deliver consistent results against the current positive underlying dynamics.”

Flat Europe, Automotive, Plates, R&DFlat Europe, headed by GMB Member Michel Wurth, is by far the largest flat steel producer in Europe, shipping 33 Mt of steel products in 2006 (twice as many as its nearest competitor). With over 28 sites in the EU27 and steel making facilities ranging from Avilés (Spain) in the West to Galati (Romania) in the East, Flat Europe has a unique geographical coverage and offers the complete Flat Carbon Steel product portfolio from slabs and plates over packaging steels to automotive sheets – around 30% of all deliveries are geared towards the automotive industry.

The combination of Western and Eastern European plants has led to clear synergies – they allow ArcelorMittal to fully and rapidly capture the existing growth potential particularly in the East, to optimise the product mix, and to strengthen the overall cost position in Europe.

AutomotiveWithin the global automotive business segment, ArcelorMittal supplies an estimated 17.4 Mt to the worldwide automotive industry annually and enjoys a clear leadership position. ArcelorMittal now operates a unique worldwide product policy to serve the platforms of the leading automotive

manufacturers. With a common catalogue and a global manager appointed for each key account, the organisation is positioned to deliver even higher levels of service to its global automotive customers. In 2006, global partnerships were fostered with a number of major Original Equipment Manufacturers (OEMs) and these efforts will be extended in 2007.

Managing 13 plate mills throughout the world the global plate business segment ensures the worldwide coordination of the plate business, ranging from common commodity plates to the highly specialised niche products fabricated by Industeel.

Global R&D regroups over 1,300 researchers and technicians from more than a dozen different labs and covering all segments (Flat, Long, Stainless).

We asked Mr Wurth about the importance of R&D for ArcelorMittal.

“As a market leader we have to constantly reinvent ourselves,” he answered. “Innovation both in terms of products - in order to renew our offering - as well as processes – driving up quality and capability while lowering cost – is of paramount importance to keep our leadership position. The size of ArcelorMittal creates unique scaling opportunities for R&D and we will reinforce our efforts in this domain.”

24/25

Within the global automotive business segment, ArcelorMittal supplies an estimated 17.4 Mt to the worldwide automotive industry annually and enjoys a clear leadership position.

Finance, Mergers and Acquisitions, Flat AmericasFinance and Flat Carbon, Americas is headed by GMB Member Aditya Mittal. ArcelorMittal’s Flat Carbon Americas division comprises substantial operations in Brazil, Mexico, the US and Canada. Combined, they represent the largest and most diverse flat-rolled supplier in the hemisphere, spanning a mix of mature and developing markets. These operations share markets and technologies and thus offer significant opportunities for synergies and performance improvements.

We asked Aditya Mittal what he saw as the benefits of the merger for customers.

“As a truly global organisation, we are now uniquely placed to support our global customers through an in-depth partnership that pulls together all the regional relationships we enjoyed with them before,” he said. “With one global account team for each major OEM, we are able to deliver standard solutions worldwide. The merger also enables us to offer our North American customers a wider range of advanced steels. And through the combination of the two companies’ R&D efforts, we are better placed than ever to deliver them the next generation of steels that will help them remain competitive.”

Aditya Mittal is also Chief Financial Officer. The ArcelorMittal balance sheet is strong and the Group is committed to maintaining an investment grade rating on its debt. Around US$4.7 billion was spent on expanding, improving and maintaining production facilities in 2006. Capital investment is planned to remain high. The targeted figure for 2008 is around $4 billion. Long Products Europe and the Americas, Wire Drawing and ArcelorMittal Steel Solutions & Services (AM3S)Long Products, AM3S, Wire Drawing Growth in demand from the construction segment in Europe and South America was a major driver behind the strong performance of Long Products in 2006. With price increases implemented in a number of markets to recover rising costs, the outlook for 2007 is positive.

Growth in demand from the construction segment in Europe and South America was a major driver behind the strong performance of Long Products in 2006. With price increases implemented in a number of markets to recover rising costs, the outlook for 2007 is positive.

boldaroundtheglobe

Headed by GMB Member Gonzalo Urquijo, Long Products operates from more than 20 sites in Europe, located in eight different countries. A stable business with a history of sustained profitability, it offers the broadest product range and geographical coverage of any European steel producer and has a particularly strong presence in the growing markets of Eastern Europe. Production consists of sections and RPS (rails, sheet piling, and special sections) – where ArcelorMittal is the clear market leader – wire rod, bars and rebars, blooms and billets, and rails.

The Long Products operations in the Americas span 16 sites in six countries: the USA, Canada, Brazil, Argentina, Trinidad & Tobago and Costa Rica. With its well-located facilities and strong footprint in the fast-growing Latin American markets, ArcelorMittal offers the broadest product mix in the marketplace. Wire rod and wire products make up the largest segment of production, followed by bars and rebars, blooms and billets, sections, rails and other products. A major producer of value-added products, it is the recognised supplier of steels for a large variety of end-use applications. boldspirit asked Mr Urquijo what he felt the benefits of the merger are for customers.

“Having combined the two companies’ commercial organisations, we are able to deliver an enhanced product range and give a better service. Cost reduction measures arising out of the merger underwrite our competitiveness going forward. And by consolidating the product mix at different sites, we will be better placed to partner our customers in their future plans.”

Mining, Asia and Africa, Stainless, Pipes and TubesAs the number one steel producer in Africa, and with plants in Macedonia, Bosnia, Ukraine and Kazakhstan, ArcelorMittal enjoys the twin benefits of a large, low-cost production base with a strong footprint in some of the world’s fastest growing steel markets. The main destinations for AACIS

(Asia, Africa, Commonwealth of Independent States) shipments are Africa (43%) and CIS and Middle East (15% each).

Headed by GMB Member Malay Mukherjee, all operations in the CIS, Asia and Africa segment have expanded their capacity since acquisition to match demand growth across the region and offer a well balanced product mix in both flat and long products. Output is oriented towards construction (35%), service centres and distribution (32%), machinery and equipment (6%) and automotive (3%).

ArcelorMittal produces pipes and tubes in 11 plants around the world with a mix of small and large diameter welded pipes and seamless tubes. Shipments in are currently running at around 1.3 million tonnes a year.

We asked Mr Mukherjee what challenges might arise in the market place?

“We have to respond to the high growth of the African and Asian markets by expanding capacity, increasing quality and lifting the volume of finished products we produce,” he said. “At the same time, cost reduction will be key. There will be acquisition and greenfield opportunities in these markets and we have to be ready for them.”

As the number one steel producer in Africa, and with plants in Macedonia, Bosnia, Ukraine and Kazakhstan, ArcelorMittal enjoys the twin benefits of a large, low-cost production base with a strong footprint in some of the world’s fastest growing steel markets. The main destinations for AACIS shipments are Africa (43%) and CIS and Middle East (15% each).

Segmentsin the spotlight

26/27

Corporate FunctionsThe Corporate Functions of the Group cover a wide range of activities, including Human Resources, Health and Safety, Commercial Coordination, Marketing Support, Performance Enhancement, Sustainable Development, International Affairs and China Coordination.

Headed by GMB Member Roland Junck, this ‘fifth business segment’ is an area that we know has enormous interest to all of the ArcelorMittal employees around the globe as its activities influence the way we work, the way we interact across the Group and the impact we have on the areas where ArcelorMittal has a presence. boldspirit will shine a brighter spotlight on this segment in the upcoming issues.

Regarding Performance Enhancement, the Group’s much expanded scale and scope, together with the enriched skills base the merger has created, have opened up new opportunities to mobilise internal know-how to achieve operational excellence in every sphere of the Group’s business. With significant value creation potential beyond that of its individual business segments, ArcelorMittal has a unique strategic advantage.

Bringing together many of the Group’s leading experts on technical and management issues, the Corporate Performance Enhancement team seeks to realise that advantage by leveraging knowledge and skills across the Group on a global basis.

ArcelorMittal is now building on the knowledge sharing programmes and global benchmarking systems developed by both Arcelor and Mittal Steel to:

• Standardise processes and tools for driving performance improvement. As the best of all methodologies are documented, standard training courses will be developed through the ArcelorMittal University and deployed Group-wide.

• Leverage the Group’s scale and knowledge base. Expertise databases are being compiled. At the same time, specialised teams of experts are being developed along with rapid response teams to address critical operational problems as they arise. For instance, the specialist blast furnace reline team, an example of the new policy, will leverage the Group’s scale to improve the capital efficiency in this major process.

• Build and maintain a global benchmarking system using common definitions, platforms and standards to enhance global knowledge sharing and facilitate the transfer of best practice.

These processes are being supported by an expanded Knowledge Management Programme (KMP), designed to lift the bar on future performance.

For more detailed information about the business segments, go to www.myarcelormittal.com

The Corporate Functions of the Group have responsibility for a wide range of activities, including Human Resources, Health and Safety, Commercial Coordination, Marketing Support, Performance Enhancement, Sustainable Development, International Affairs and the Group’s operations.

Robust and cash generativeboldbusiness is a regular feature of the magazine. This issue we take a look at the 2006 results and the benefits of integration. In the future we will be speaking to ArcelorMittal leaders in the various business and geographical segments and highlighting areas with growth potential.

boldbusiness

In his speech at the Leadership Conference in Cannes, Lakshmi Mittal commented on how ArcelorMittal is quickly emerging as an example to the corporate world of how a merger can be successful and create value.

The media are painting a picture of a bold move that has created a Group with immense financial strength, and has brought new earnings stability to the steel industry. One analyst from Société Générale referred to us as “a unique steel industry investment play that is set to become a true benchmark for the steel sector. ArcelorMittal boasts an unrivalled business risk profile (industry leadership, diversified base, global footprint, vertical integration), with limited anti-trust requirements and scope for more synergies than identified.”

In 2006, ArcelorMittal recorded pro forma sales of more than $88 billion US and a top-line profit (earnings before interest, tax, depreciation and amortisation–EBITDA) of $15.3 billion US.

A warm welcome from investorsMr Mittal has long argued the case for increased consolidation in the global steel industry as a means of creating an

industry with the scale to match that of its fast-globalising customers and strong enough to withstand cyclical downturns.

A rise of more than 40% in the Mittal Steel share price, after the merger with Arcelor was completed on August 1 2006, speaks volumes for the way the deal has been received among the financial community. “The reaction of investors has been very positive,” says Julien Onillon, Global Head of Investor Relations: “Following our Investor Day last September, long-term funds in the UK and US in particular started buying the shares.”

Since then, the share price has realised an even greater rise of up to 60%.

Three-pillar growth strategyOur growth strategy (both organic and acquisitive) has a three-pillar approach: geography, product and value chain. This is based on our belief that a global diversified, integrated business model can create stability and sustainability through the cycle.

It is these three core aspects we believe give us a unique competitive advantage and form the foundation for our long-term sustainability.

The task ahead is to continue to build on this position if we want to continue to transform the future potential of our company and the industry more broadly.

“ ArcelorMittal boasts an unrivalled business risk profile (industry leadership, diversified base, global footprint, vertical integration), with limited anti-trust requirements and scope for more synergies than identified.” Analyst, Société Générale

Shenzhen Convention and Exhibition Centre

Line indicates HRC (Hot Rolled Coil, product) FOB (Free On Board, terms of delivery) US Midwest $/s. tonne

US $16bnUS $14.9bn US $15.3bn

20062005

20062005

20062005

20062005

20062005

2004 2005 2006Q1 2007: US $4.3bn

ArcelorMittal EBITDA pro forma ArcelorMittal pro forma figures (unaudited)

88,576 +10.5% Sales(US million)80,171

110.5 +7.4% Shipments(million tonnes)102.9

15,272 +2.1% EBITDA(US $ million)14,959

11,824 +1.5% Operating income(US $ million)11,648

-3.5% Net income(US $ million)8,263

7,973

“In the past, specific expertise would be mobilised as and when it was needed, and transferred from one plant to another,” explains Bill Scotting, Executive Vice President and Head of the Continuous Performance Enhancement team. By twinning plants, we are creating more consistent interaction between them over a longer period of time – and in a more standardised manner. The idea, he says, was originally conceived by Arcelor shortly after it acquired Bremen Stahlewerke. The Bremen plant was then twinned with Gent.

A number of twinning projects are underway with more envisaged. All the former Mittal Steel plants in Eastern Europe have been twinned with either the Eisenhüttenstadt or Bremen plants in Germany. Annaba in Algeria is now being twinned with the former Arcelor plant at Fos-sur-Mer, near Marseille. Both are integrated plants and Fos’ experience is expected to prove valuable to the Algerian team. It also helps that there are direct flights from Marseille to Annaba twice a week, which makes it easy to organise plant visits.

One of the more established twinning arrangements is between Point Lisas in Trinidad and Acindar in Argentina. The common link is that both operations produce high-quality, direct reduced iron (DRI). To share best practices, identify areas for improvement and bridge gaps, the two plants started exchanging personnel in November last year.

The aim of the week-long visits was to see how the other site worked, get ideas, transfer know-how and agree on common improvement plans.

John M. Kuriyan, Managing Director of ArcelorMittal Point Lisas, cites three major benefits of twinning. First, taking the best from the other site allows the twin to improve its systems and results. Second, it helps both parties find out what is going on elsewhere in the Group – both technically and culturally. Third, for companies in the same region, twinning leads to better cooperation in the marketplace.

All the teams participating in the Acindar-Point Lisas twinning project highlight not only the operational benefits of the experience, but also the good support and attention provided by their counterparts, as well as the excellent working atmosphere.

As a result of the visits, action plans are now being put in place. Both Acevedo and Kuriyan point out that, even if technical and management changes can take several months, the cooperation between the two sites will produce some immediate benefits – for example, in the very important field of safety. “Acindar people are very involved in safety,” explains the Point Lisas Managing Director. “We have learned a lot from their safety system and will start implementing changes accordingly.”

These visits proved “extremely positive for both sides,” says Arturo Acevedo, CEO of Acindar, as they pave the way to “ a leverage of knowledge and a standardised efficiency level.”

28/29boldspotlight

Twinning plants sharing knowledge

With steel-making facilities in 27 countries, ArcelorMittal has a critical mass of plants in every region. Many use the same production route and share similar characteristics. Now different operations are being ‘twinned’ – to ensure the transfer of best practice from one to the other.

Orlando Amable, technician, Acindar, Argentina.

With production capacity reaching 6.5 million tonnes of steel and 5.5 m tonnes of coke per year, Mittal Steel Poland played a significant role as a member of the Group before the merger. Gregor Münstermann, CEO of ArcelorMittal Poland and ArcelorMittal Ostrava, explains that it will continue to play an important role in the future thanks to the implementation of an extensive investment programme.

In the last two years Poland was and still is the largest construction site of steel facilities in Europe. Thanks to investments, the Polish steel sector has already been highly modernised and is still undergoing improvements.

In line with the Privatisation Agreement of Polskie Huty Stali, the strategic investor undertook to implement four investments provided for in the Business Plan of PHS. They agreed with the Polish Government and the European Commission on the following actions: modernisation of the hot strip mill in the former Huta im. Sendzimira in Kraków, construction of a 3rd continuous casting line in the former Huta Katowice in Dąbrowa Górnicza with the capacity of 1.5 m tonnes of slabs per year, modernisation of the wire rod mill in the former Huta Cedler in Sosnowiec and construction of the new strip coating line in the former Huta Florian in Świętochłowice.

The investment projects provided for in the original Business Plan of PHS were tailored to the Polish market conditions. After PHS joined the global steel group Mittal, the situation changed dramatically. The strategic investor decided to carry out a time consuming but also critical analysis and modification of the investment programme, adjusting a Polish company to the highest world standards of the ArcelorMittal Group. Technical parameters of each of the four foregoing investments were improved.

Two of the four strategic investments were commissioned in November last year. These are the new coating line in Świętochłowice, and the modernised wire rod mill in Sosnowiec.

Today, after constructing the new CCM line and comprehensive modernisation of BF no.2, ArcelorMittal Poland Unit in Dabrowa Górnicza is one of the largest integrated steel plants in Europe, friendly to the environment, and with broad outlooks for the years to come.

A new hot strip mill in Kraków will be commissioned in Q2 2007. This investment will make it one of the largest and most modern steel plants in Europe and it will open up new opportunities for ArcelorMittal Poland to win the most demanding customers.

Site of the monthPoland: Investments for the futureGregor Münstermann, CEO ArcelorMittal Poland, talks about how the ArcelorMittal merger is transforming tomorrow not just for the plant, but for the Polish steel industry.

“ The strategic investor decided to carry out a time consuming but also critical analysis and modification of the investment programme, adjusting a Polish company to the highest world standards of the ArcelorMittal Group.”

boldfocus

Europe’s largest coke producerEurope’s largest coking plant – Zdzieszowice – belongs to the Group. It satisfies not only the needs of the steel plants of ArcelorMittal Poland, but it also delivers coke to ArcelorMittal steel plants in Europe and in the US and thus is very strategic. What is significant is that Poland has coking coal – rich deposits located only several dozen kilometres from our coking plants – and that it borders the Ukraine, where enormous iron ore deposits are located.

What makes the coking plant in Zdzieszowice different from other coking plants is not only production technology and volume and economic results, but also achievements in the area of environmental protection. The solutions applied are the most modern in the world’s coking industry, which makes it possible to meet increasingly strict standards of environmental protection.

Benefits of the mergerThe Management in Poland is fully aware that the workplace conditions must meet the highest technical standards. “It is not only the matter of providing funds necessary to attain this goal,” says Mr Münstermann, “it is also the issue of fully aware observance of Health and Safety rules. We are all responsible for safety, our own and that of our colleagues. Hence the critical goal is to ensure an accident–free, safe working environment.”

Major benefits of the ArcelorMittal merger for Polish mills are: joining the developed integrated net of ArcelorMittal distribution, access to new markets and opportunities for Sustainable Development (sharing knowledge, investments etc.).

“ The solutions applied are the most modern in the world’s coking industry, which makes it possible to meet increasingly strict standards of environmental protection.”

Major benefits of the ArcelorMittal merger for Polish mills are: joining the developed integrated net of ArcelorMittal distribution and accessing new markets and opportunities for sustainable development (sharing knowledge, investments etc.).

30/31

ArcelorMittal in numbers… The Group has more than 320,000 employees in more than 60 countries / It has an industrial presence in 27 countries across Europe, the Americas, Asia and Africa / The new company is one of the 50 largest corporations in the world / Its production capacity is 118 million tonnes of steel, which is about 10% of the world’s crude steel output / ArcelorMittal pro forma net income for 12 months 2006 was US$7,973 million / In 2006, ArcelorMittal recorded pro forma sales of over US$88 billionDid you know that…If ArcelorMittal was a country, it would be number 52 in Gross Domestic Product (GDP), just after Ukraine / If ArcelorMittal was a government, it would be number 28 in budget spending, between Saudi Arabia and South Africa / ArcelorMittal as a merger represents the number 3 transaction in size in 2006 / If ArcelorMittal employees created a country, it would have the same population as the Maldives...

boldfacts

Eye on the future

32/33

Sustainability, Quality and Leadership: the way that we are transforming ArcelorMittal into one of the most admired businesses in the world – and one that will still exist in 50 years time – is by investing in the future.

Promotion and coordination of the social policies and activities of the Group will cover six areas of activity: Education, Health and Science, Social Promotion, Sports, Art and Culture and the Environment.

“We felt a high energy and enthusiasm to move ArcelorMittal forward,” said Lakshmi Mittal, after the Leadership Conference and launch of the brand. Here we list a number of initiatives (although not all), that have the objective of transforming tomorrow – for our company, for the steel industry and for the world we live in.

The ArcelorMittal FoundationArcelorMittal has just launched the ArcelorMittal Foundation, with Felicidad Cristobal as its Managing Director, to show the Group’s commitment to sustainability in the local communities where we have a presence.

The Foundation’s vision is to be the world reference in terms of social actions, in order to enhance holistic development of our Planet. It will be active in six key areas of activity: Education, Health and Science, Social Promotion, Sports, Art and Culture and the Environment.

The Foundation supports many projects all over the world. As an example we can mention our two hospitals in Liberia, where we provide medical treatment in a country lacking virtually every infrastructure.

Another example is our “Collect a Can” project in South Africa. This project tackles three areas of activity: Environmental, since it promotes cleaning up the streets from cans; Educational, because we teach school children environmental awareness to keep our cities clean, and Social Promotion, because it provides a small revenue to people who, otherwise, would not be able to make a living.

There are many other projects being implemented, and we will be telling you more about them shortly.

ArcelorMittal University – developing our peopleForging future leaders. These three words precisely describe what the ArcelorMittal University stands for. The main purpose of the institution is to support the organisation’s overall strategy to grow our own future leaders.

ArcelorMittal University is actively taking part in the process of transforming tomorrow! The core Leadership & Management Academy programmes were launched in September 2006 and the e-Academy is already available for up to 20,000 exempt students. A Steel Academy and Functional Academies are being developed along with further investment in technical and functional training for all levels. More than 10,000 employees will attend class room training events in 2008 and 50% of our population will be able to undertake development intervention, also by 2008.

Research and DevelopmentQuality is another area of particular focus for the company. The Group’s investments in innovation and Research and Development benefit customers and drive improved competitiveness.

Enhanced R&D leadership drives innovation and growth. With 13 major research centres in Europe, the US and Canada, ArcelorMittal possesses an R&D capability unique in the steel industry. The Group will continue to invest in R&D to continuously deliver the high-end products key customers require.

boldinitiatives

boldmedia

ArcelorMittalin the news

For the last 12 months, the ArcelorMittal integration process from start to finish has, without a doubt, been a major attention - grabbing story worldwide. Although the industrial logic was well understood and supported in the media at the time of the merger, many reporters voiced concerns over whether the two companies would be able to work successfully together due to their perceived different cultures.

The public has been curious. More than 22 major newspapers around the world including the International Herald Tribune (18.03.07), De Tijd (09.02.07), The Telegraph (Calcutta India 07.02.07) Les Echos (18.01.07), noted the launch of ArcelorMittal Web TV and its candidness.

The media have focussed in the course of the past few months on the successful integration between Arcelor and Mittal to create a much stronger and more sustainable business.

In December 2006 the Financial Times reported that Lakshmi Mittal had been chosen “Newsmaker of the Year” for Time magazine.

In an article entitled “A man of mettle”, Time explained that Mittal overcame every sort of political, personal and financial objection to forge a global steel titan, whose vast size and range should enable it to ride out the ups and downs of a notoriously cyclical industry. “Mittal demonstrated in a stunningly

audacious way just how much the world has changed,” the magazine stated.

In April 2007 Business Week dedicated the cover story to “Mittal & Son”. Calling the pair, “the most powerful father-son duo on the global business stage,” the article goes on to say how “they’ve helped revive a flagging industry.”

Certainly Mr Mittal’s bold spirit caught the media’s attention. In May 2007 Lakshmi Mittal was named in Time magazine’s “100 most influential people of 2007.”

The ArcelorMittal merger was awarded the Grand Prix de l’Année 2006 by the Club des Trente, gathering high profile French CEOs and CFOs. The transaction was elected best financial deal of 2006 thanks to “the industrial logic of the operation, in line with the world steel industry evolution.”

More than 22 major newspapers around the world including the International Herald Tribune (18.03.07), De TIJD (09.02.07), The Telegraph (Calcutta India 07.02.07) Les Echos (18.01.07), noted the launch of ArcelorMittal Web TV and its candidness.

“ Enthusiastic investor sentiment towards the merger has also had an impact on other steel stocks. This is shown by the global steel industry stockmarket index having risen over the same period by 23.6% more than the overall index for all world stocks”.

34/35

Exceeding targetsAs one unified company, ArcelorMittal has a more sustainable earnings base, and has achieved an optimum model for steel companies to deliver sustainable value.

On March 29 2007, La Tribune wrote, “ArcelorMittal is exceeding targets.”

In the article it said that “Everything is promising... an integration completed three months early, synergies on the right track and a confirmation of the mutual contributions of the two ex-competitors. Thus ArcelorMittal is already seeing its most advanced technologies in the automobile sector deployed in the United States.”

The results speak for themselves with the share price rising 40% since the merger was announced. All the major press reported Q107 highlights, “higher than guidance due to accelerated synergy generation, $2.7 billion cash provided by operating activities in Q107 and strong net debt reduction in Q107 of $1.7 billion over Q406 Integration going well – on track to deliver synergies as planned – synergies of $573 million captured.”

In his article entitled “Mittal puts a shine on European steel” Peter Marsh at the Financial Times wrote that, “enthusiastic investor sentiment towards the merger has also had an impact on other steel stocks. This is shown by the global steel industry stockmarket index having risen over the same period by 23.6% more than the overall index for all world stocks.” Robert Miller, managing director of Miller Mathis, a New York investment bank, called the ArcelorMittal combination so far a “spectacular success.”

“ Everything is promising… an integration completed three months early, synergies on the right track and a confirmation of the mutual contributions of the two ex-competitors. Thus ArcelorMittal is already seeing its most advanced technologies in the automobile sector deployed in the United States.”

Brief glance: delivering a successful merger

19.04.07Mittal puts a shine on European steelThe Financial Times reports that, “on the back of concerted management efforts led by Mr Mittal to integrate the two companies, a healthy climate for steel demand and no signs of discontent by former Arcelor executives who for much of last year opposed the proposed deal, ArcelorMittal’s share price has risen strongly since the deal was announced last June. Over this time, it has outperformed the global average of all quoted stocks by 27.7 per cent”

04.05.07Lakshmi Mittal is named in Time magazine’s “100 most influential people of 2007”

24.05.07The ArcelorMittal merger was awarded the Grand Prix de l’Année 2006 by the Club des Trente, gathering high profile French CEOs and CFOs

Lakshmi Mittal, Newsmaker of the Year for Time magazine Time magazine chooses ArcelorMittal CEO Lakshmi Mittal “International Newsmaker of the Year 2006.” “Mittal is an exemplar of a new type of business leader,” the magazine states

boldquiz

Are you made of ArcelorMittal steel?

To foster more effective communication amongst ArcelorMittal people around the globe, and to develop a stronger interaction between the various means of corporate communication, a regular feature of boldspirit will be surveys and quizzes which will change every issue. The first quiz – Are you made of steel? – is made up of a variety of questions to test your general knowledge of ArcelorMittal and our new brand and identity. All of the answers can be found at www.myarcelormittal.com or in this issue of the magazine, but watch out, we plan to make the quizzes a little harder in the future. The idea is to learn something about our company and our industry along the way…

Send your complete answers to editorial@arcelormittal.com We will review all of the entries. A winning draw will be conducted during the week of Monday September 17 2007 with web editor Raquel Córdoba and Global Branding Manager Tony Old. All the answers will be posted on the intranet along with the results on Friday September 21 2007. The prize for this quiz will be an all expenses paid trip to the site of the month in Poland for two people, plus hotels and a complete logo kit.

1. How many people responded to the online survey in the discovery phase of the branding exercise?

2. What are the three values of our new identity?

3. Who is the Brand Champion for Kazakhstan?4. According to the Annual Report, what was

ArcelorMittal’s 2006 production capacity?5. What percentage of the world’s crude steel

output does the above production capacity figure represent?

6. How many ArcelorMittal employees and subcontractors were involved in the Health and Safety Day 2007?

7. In the Corporate Health and Safety Video, what is the man doing at exactly the time the woman plugs in her vacuum cleaner?

8. Where is the Code of Business Conduct found on the ArcelorMittal intranet site?

9. According to the May 3 2007 news item on the intranet site, what plant in France was praised as a model of sustainability?

10. In Web TV Episode 11: Brand, who is the person from ArcelorMittal International speaking?

36/37boldinterview

Is there something that never fails to surprise you? I can tell you about something that recently surprised me. It was in Cannes. I realised that there were 50 nations at the beginning of the United Nations and that we represented 52 nations at our ArcelorMittal Leadership Conference. And everyone was getting along!

How do you spend your spare time? Almost all of my free time is spent with my family and friends. I am not only a father of two, but also a very happy and blessed grandfather. We have joyful weekends where I can (almost) entirely relax. It is true, however that in recent times, since the whole family is involved in the business, the integration naturally became a major topic of discussion.

Is there one movie you would like to see again (and again…?) The Godfather. No, I am only joking, but I do like movies with memorable characters, movies that tell good stories.

What is the most useful thing you have learned? It would have to be tenacity. When you try to do something ambitious, you will always have critics and challenges. You need boldness, but you also need persistence.

What fills you up with energy? I know this will sound expected, but my family is my primary source of energy.

Where is your favourite place in the world? I still get a great deal of pleasure visiting the steel plants. I have been very impressed by the genuine passion for steel-making that I have seen in so many of you and your colleagues as I too have always shared this passion. My father was in the steel business and so I grew up around steel. I have never known anything but steel from my earliest memories.What do you think of during a transatlantic flight? When I travel, it’s very often to visit plants and work. So my thoughts are often taken by the upcoming meetings and in preparing them, but I am not going to pretend, sometimes I also sleep…What are the qualities you most admire in a person? It is vitally important to have passion in your personal and professional life and right now a combination of professional as well as entrepreneurial spirit is the need of the day. But one must also have honesty. Success is not an overnight phenomenon and one must take joy and satisfaction in doing the task at hand with utmost sincerity and dedication.Is there one thing that drives you crazy? Health and Safety is a number one priority in our company and in my life. It does not drive me crazy, but it does make me very concerned. We must improve our Health and Safety record drastically. This is not only a business priority, but also a personal one.

Do you still have some of your childhood friends? Of course, I have many many friends still from my childhood. But I’ve also managed to gain a lot of new ones. Friendship is an important element in my life, something that, along with my family, maintains my balance.

When was the last time you roared with laughter? Yesterday when I was having dinner with my wife and she started talking about our granddaughter.

What time of your life has been the best one so far? Each period of my life has been interesting, from my childhood in India to my first steel mill. I can still remember very clearly the day my small rolling mill in Indonesia produced its first bar. We had been working all hours around the clock for fourteen months turning this empty field into a working plant. It remains one of the biggest achievements in my life because that first bar was the acorn from which this company has grown. I am very proud of what we have been able to achieve. But I am not a man of the past. Today, I’m very proud of the creation of ArcelorMittal and what it can achieve in the future. I hope you feel excited as well…

A relaxed moment with... Lakshmi MittalTwelve questions to better know the man behind the businessman