ArcelorMittal South Africa 2007 Annual Report Page 134 29.  DEFERRED TAXATION Deferred tax (assets)/liabilities arise from the following:

Cash flow

hedges

Rm

Property,

plant,

equipment

and

intangible

assets

Rm

Employee

cost

Rm

GROUP For the year ended 31 December 2007 Temporary differences At beginning of year

(2)

3 192

(76)

Charged to income

8

5

(5)

Charged to equity

(21)

At end of year

(15)

3 197

(81)

GROUP For the year ended 31 December 2006 (Restated) Temporary differences At beginning of year

3 107

(61)

Restatement (note 2.5.1)

110

Charged to income

(2)

(25)

(15)

At end of year

(2)

3 192

(76)

COMPANY For the year ended 31 December 2007 Temporary differences At beginning of year

(2)

1 470

(76)

Charged to income

8

72

(5)

Charged to equity

(21)

At end of year

(15)

1 542

(81)

COMPANY For the year ended 31 December 2006 Temporary differences At beginning of year

1 412

(78)

Charged to income

(2)

58

2

At end of year

(2)

1 470

(76)

Notes to the group and company annual financial statements continued for the year ended 31 December 2007