International Steel Group Inc. is increasing its earnings outlook for the third quarter of fiscal 2004, principally due to higher prices.

ISG anticipates third-quarter earnings per diluted share to be in the range of $2.00 to $2.10. This compares with $1.70 per share consensus estimate by analysts surveyed by Thomson First Call, and represents a solid improvement over actual earnings of $0.93 per diluted share for the second quarter of 2004.

"We are having a better-than-expected quarter because of the continuing strength of the steel market resulting in higher prices," said Rodney B. Mott, President and CEO. "We are optimistic that economic and steel market conditions will remain strong in North America and globally for the near term."

ISG plans to announce its third quarter results on or about October 26, 2004 prior to the opening of the New York Stock Exchange.

International Steel Group Inc. is one of the largest steel producers in North America. It produces a variety of steel products including hot-rolled, cold-rolled and coated sheets, tin mill products, carbon and alloy plates, wire rod and rail products and semi-finished shapes to serve the automotive, construction, pipe and tube, appliance, container and machinery markets.