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ISG Completes Purchase
of Weirton Steel Assets

May 19, 2004 — International Steel Group Inc. announced completion of its acquisition of Weirton-based Weirton Steel Corp.

William McKenzie, former Vice President & General Manager of ISG Plate Inc. in Coatesville, Pa., has been named Vice President & General Manager of ISG Weirton Inc.

"The Weirton facilities bring us added strength in both the tin and galvanized construction markets," said Rodney B. Mott, ISG's President and CEO. "Our new workforce is both outstanding and dedicated, and we could not have completed this transaction without the support of the Independent Steelworkers Union (ISU). We look forward to a quick and smooth integration as we bring the former Weirton employees and facilities into the ISG family and culture."

The purchase price, which remains subject to adjustment, was $253 million, including the assumption of certain liabilities.

After the Weirton acquisition, International Steel Group Inc. is the largest integrated steel producer in North America, based on its capacity to cast approximately 21 million tons of steel products annually. It ships a variety of steel products from 12 major steel producing and finishing facilities in seven states, including hot-rolled, cold-rolled and coated sheets, tin mill products, carbon and alloy plates, rail products and semi-finished shapes serving the automotive, construction, pipe and tube, appliance, container and machinery markets.

Weirton Steel, formerly the fifth-largest U.S. integrated steel company and the nation's second largest producer of tin mill products, filed a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code on May 19, 2003.

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