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ISG to Restart Cleveland West
Meltshop and Caster

March 11, 2004 — International Steel Group Inc. will restart a continuous caster and a basic oxygen furnace (BOF) shop on the West Side of its Cleveland Works, and will hire approximately 140 laid-off steelworkers for the revitalized operations.

ISG plans to invest $10 million, primarily for maintenance and engineering necessary to restart the facilities, which have been idle since the former owner, LTV Corp., shuttered them in June 2001. The first slabs are expected to roll off the twin-strand continuous slab caster in May. At full production, the caster will add 60,000 tons of steel slabs per month. The additional casting capacity will balance ISG Cleveland's existing iron-producing and rolling capacity.

William A. Brake, ISG Vice President and General Manager, and Mark Granakis, President of United Steelworkers of America (USW) Local 979, emphasized the strength of the partnership between the company and the union as they announced the restart.

"Market conditions now warrant this investment from ISG — a financial commitment as well as an expression of faith in the employees who will return to the Cleveland Works," said Brake. "The cooperation we have received from the steelworkers makes this day possible. We are united in the understanding that for each of us, this is more than a job; it is also a pledge to do our best for ISG families and for the entire Cleveland community."

Granakis said, "The restart of the West Side operations is a testament to the skill and professionalism of the men and women who worked there, and who shut down those facilities with care and efficiency almost three years ago. Now, the USW is delighted to join ISG in restarting this first-class plant and committing to the future of steelworkers and steelmaking in Cleveland."

Virtually all of the workers whom ISG plans to add will come from the ranks of former West Side employees.

International Steel Group Inc. is the second-largest integrated steel producer in North America, based on steelmaking capacity. The company has the capacity to cast more than 18 million tons of steel products annually. It ships a variety of steel products from 11 major steel producing and finishing facilities in six 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.

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