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Copperweld Announces CEO
and Other Assignments

March 2, 2004 — Copperweld Corp. announced the promotion of Dennis McGlone to President and CEO of the steel tubing, automotive, and bimetallic products firm. Mr. McGlone had been President and Chief Operating Officer.

The company also announced that Pat J. Meneely has joined the company's senior staff as Vice President of Business Services, a newly created position. Mr. Meneely's responsibilities will include the corporation's human resources and information technology areas.

"We were very fortunate to be able to hire someone with Pat Meneely's broad-based background and expertise," said Mr. McGlone. "He is a proven, results-oriented executive who has developed and successfully implemented business process improvements for several major domestic and international companies."

The corporation's board of directors elected James A. Loveland as Chairman of the Board and named two other board members as committee chairmen. Andrew P. Hines will serve as audit committee chairman and W. Allan Hopkins as chairman of the board's compensation committee.

Mr. McGlone joined Copperweld in 2001 as Vice President of Sales for the Tubular Products Group. He was named President and Chief Operating Officer in October 2002 and worked in that capacity through the restructuring process, which enabled the firm to successfully emerge from bankruptcy as a stand-alone company. Prior to joining Copperweld, he had been Vice President—Commercial and a corporate officer of AK Steel, heading the national and international sales of its specialty products. Mr. McGlone holds a BS degree in metallurgical and materials engineering from the University of Pittsburgh.

Pat J. Meneely has extensive experience in the human resources and information technology areas in several industries including manufacturing, consumer products, and consulting. Before joining Copperweld, Mr. Meneely held executive positions with Covansys, Armco, and Wheeling-Pittsburgh Steel. Mr. Meneely earned a BS degree from Indiana University of Pennsylvania, an MBA from the University of Pittsburgh and an MS degree in human resource management from Houston Baptist University.

James A. Loveland has diversified experience in executive management, international operations, strategic planning, sales and manufacturing. He recently served as Copperweld's Chief Restructuring Officer, helping the firm develop the reorganization plan that enabled it to emerge from bankruptcy. Prior to joining Copperweld, Mr. Loveland worked as a management consultant, focusing on business restructuring assignments. He also served for nine years as President and CEO of WorldSource Coil Coating and for five years as President and COO of Continental Copper & Steel, Inc. He holds a BS degree in economics and an MBA from the University of California, Berkeley.

Andrew P. Hines has nearly 30 years of experience as a senior-level executive in operations, finance, acquisitions and divestitures, bank relations and capital financing. He has worked in the consumer, industrial, retail and e-net industries, with both Fortune 100 companies, such as RJR Nabisco, Adidas and F.W. Woolworth, as well as with a number of entrepreneurial companies. He holds a BBA degree from Saint John's University and attended Harvard University. He is a member of the American Institute of Certified Public Accountants and the Financial Executives Institute.

W. Allan Hopkins has served in executive-level positions in the steel industry for more than 20 years, including executive positions in operations and sales for Stelco, Inc., as President and CEO with Algoma Steel, as Chairman of the Board of Empire Specialty Steel Inc., and as President and CEO of Atlas Steels, Inc. He currently works as a consultant and serves on the board of directors of several corporations, including Copperweld. Mr. Hopkins earned a BS degree in civil engineering from the University of North Dakota.

Copperweld Corp. was founded in 1915 to produce copper clad steel wire and strand. It expanded into the mechanical and structural tubing business in the 1950s and into the automotive components business in the 1990s. In late 1999, it was acquired by LTV and combined with another acquisition, Welded Tube Co. of America and LTV's existing tubular products business, became the largest producer of steel tubular products in North America and the largest producer of bimetallic products in the world. The Pittsburgh-based company entered bankruptcy when its parent company, LTV Corp., filed for Chapter 11 protection in December 2000. It emerged from bankruptcy as a stand-alone company on December 18, 2003.

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