The Toronto Stock Exchange has approved Dofasco Inc.’s application to make a Normal Course Issuer Bid for the repurchase of its common shares.

Pursuant to the bid, Dofasco will be entitled to repurchase up to 3.8 million of its common shares over the twelve-month period commencing on November 1, 2004. The 3.8 shares represent approximately 5.0% of the total 77,061,611 common shares outstanding as of September 14, 2004.

Dofasco may wish to purchase Common Shares from time to time for the purpose of returning value to the shareholders. All purchases will be made through the facilities of the TSX, and the shares purchased under the bid will be cancelled.

Dofasco is a leading North American steel solutions provider. Product lines include hot rolled, cold rolled, galvanized, Extragal^(TM), Galvalume^(TM) and tinplate flat rolled steels, as well as tubular products, laser welded blanks and Zyplex^(TM), a proprietary laminate. Dofasco's wide range of steel products is sold to customers in the automotive, construction, energy, manufacturing pipe and tube, appliance packaging and steel distribution industries.