ArcelorMittal hereby announces that the price offered in the delisting tender offer (“Offer”) for all shares of Arcelor Mittal Inox Brasil S.A. (previously named Acesita S.A. ) (“Company”) is being reduced to reflect the interim dividends declared by the Company in a Notice to Shareholders dated March 14, 2008, in accordance with the terms of section 1.5.3 of the Offer Notice published on March 5, 2008.
The price offered by ArcelorMittal was R$ 100.00 per common share and R$ 100.00 per preferred share of the Company, and, after the subtraction of the interest on equity already declared on December 19, 2007 and the declaration of interim dividends referred to herein, the offer price will be R$94.55 per common share and R$94.00 per preferred share, still subject to adjustment by the Referential Rate – TR plus 6% per year, starting February 28th, 2008 through to the Offer auction date (April 4, 2008). At the current exchange rate, this transaction will represent a cash disbursement of up to around US$1.76 billion.
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