July 18, 2006 — AK Steel Corp. and the United Autoworkers (UAW) have reached a tentative agreement on all terms and conditions for a new labor contract at the Butler Works in Pennsylvania.

AK Steel and the UAW jointly agreed to commence early negotiations on June 20 to reach a new labor contract to replace the existing agreement, which is scheduled to expire September 30, 2006.

The tentative agreement, which covers covering about 1,400 hourly production and maintenance employees, is subject to ratification by Local 3303 members.

Headquartered in Middletown, Ohio, AK Steel produces flat-rolled carbon, stainless and electrical steel products, as well as carbon and stainless tubular steel products, for automotive, appliance, construction and manufacturing markets. The Butler Works produces electrical, stainless and carbon flat-rolled steels.