Stelco Inc. obtained an Order of the Superior Court of Justice (Ontario) extending the stay period under its Court-supervised restructuring from February 11, 2005 until April 29, 2005.

The extension will allow Stelco to continue negotiations with its stakeholders, complete the capital raising and asset sale process, complete the creditor claims procedure and develop a plan of arrangement or compromise.

Courtney Pratt, Stelco’s President and CEO, said, "This extension is in the best interests of all stakeholders. It provides the time and the certainty in which we can move closer to the goal of a successful restructuring."

Stelco Inc. is a large, diversified steel producer involved in major segments of the steel industry through its integrated steel business, mini-mills, and manufactured products businesses.