ArcelorMittal and Nunavut Iron Join Forces to Provide Superior Cash Offer of C$1.50 Per Common Share for 100% of Baffinland Common Shares.

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ArcelorMittal and Nunavut Iron Join Forces to Provide Superior Cash Offer of C$1.50 Per Common Share for 100% of Baffinland Common Shares.

TORONTO & LUXEMBOURG -- Regulatory News:

* Increased Offer Price of C$1.50 in Cash per Common Share

* Offer is for 100% of Outstanding Common Shares

* Nunavut Iron Joins ArcelorMittal Offer as Joint Offeror

* Nunavut Iron Advises Shareholders to Withdraw Shares from Nunavut Iron's Partial Bid and Tender to ArcelorMittal Offer

* Approximately 25% of Baffinland Shares Remain Locked-Up to the Offer

* Offer Extended to 11:59 P.M. (Toronto Time) on 24 January 2011

ArcelorMittal and Nunavu...

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