The Stel Salaried Pensioners Organization wishes to thank The Hamilton Spectator for permission to post the following article,

published in the March 4, 2006 edition

Stelco revamp by March 31

The Canadian Press
TORONTO (Mar 4, 2006)

Stelco said it's confident its court-supervised restructuring will be completed by the end of March and it will seek the delisting of its current common stock March 10.

Current shares will become worthless once the restructuring is completed, since the legally insolvent steelmaker's assets aren't sufficient to repay its creditors in full.

Once the restructuring is complete, Stelco expects to issue new shares.

More than 26 million of Stelco's current Class A shares traded by midday yesterday on the Toronto stock market, at prices ranging from three cents to six cents each.

The stock closed at 3.5 cents yesterday, a daily gain of 16.7 per cent.

On Thursday, an Ontario bankruptcy judge extended Stelco's creditor protection to March 31, the latest extension in a process that has dragged on since January 2004 due to persistent negotiations among stakeholder groups.

Stelco also pledged to have most of its final restructuring work done by March 17.