“We are not surprised that Wheeling-Pitt’s management and board of directors has ignored shareholders and the United Steelworkers and instead entered into a merger agreement that would give control of Wheeling-Pitt to CSN. By taking this action, the board of directors and executive management has once again revealed their lack of business judgment and disregard for the shareholders, employees and retirees of Wheeling-Pitt by entering into a shotgun marriage. Shotgun weddings don’t work.

“This decision has made the November 17th election of directors a referendum on Mr. Bradley’s past performance as well as the future direction of Wheeling-Pitt. A vote for Wheeling-Pitt’s slate of directors on November 17th is a vote for keeping Mr. Bradley at the helm of Wheeling-Pitt and ceding control of Wheeling-Pitt to a Brazilian company. It is time to remove this management team and replace the board.

“We remain firmly committed to the election of our slate of directors at the November 17 annual stockholders meeting so that we can begin to rebuild Wheeling-Pitt and reclaim its leadership role in the steel industry.”