March 31, 2006 — A U.S. Bankruptcy Court judge has ruled in favor of the WCI Steel reorganization plan presented by a group of WCI's secured noteholders.

The orders confirming WCI’s Plan of Reorganization were signed by U.S. Judge Marilyn Shea-Stonum, the bankruptcy judge in charge of WCI's Chapter 11 case. The confirmation brings WCI Steel another step closer to its emergence from bankruptcy reorganization.

Patrick G. Tatom, WCI's President and CEO, said the timing of WCI's emergence from bankruptcy will depend upon a ratification vote by the United Steelworkers on a collective bargaining agreement negotiated in November with the noteholders.

He added that the confirmed plan will enable WCI to emerge from bankruptcy with a strong balance sheet, a lower cost structure and a competitive labor agreement, all of which will position the company to better serve customers' needs now and in the future. "This plan gives the opportunity to build WCI Steel as a strong, independent custom flat-rolled producer," Tatom said.

WCI filed a voluntary petition for protection under Chapter 11 of the U.S. Bankruptcy Code on Sept. 16, 2003.

"All of us at WCI are greatly appreciative of the patience, support and loyalty shown by our customers, vendors and employees through the bankruptcy process," Tatom said. "We also are gratified by the strong commitment of our noteholder group, which is investing $50 million in the reorganized WCI."

WCI is an integrated steelmaker producing more than 185 grades of custom and commodity flat-rolled steel at its Warren, Ohio facility. WCI products are used by steel service centers, convertors and the automotive and construction markets. The company has approximately 1,600 employees.