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J&L Specialty Steel
Announces Price Increase

March 12, 2004 — J&L Specialty Steel, LLC will increase prices on all grades of its stainless steel products, effective with shipments on March 28, 2004.

Discounts will be reduced by 2 percentage points, which will effect a price increase of approximately 6%.

The current raw material and fuel surcharge policies, as well as J&L's latest price schedule dated September 2, 2001, will remain in effect. Prices are based upon the date promised on J&L's order acknowledgement and orders are non-cancelable once confirmed.

J&L Specialty Steel is headquartered in Coraopolis, Pa., with plants located in Midland, Pa., and Louisville, Ohio. J&L is a wholly owned subsidiary of Arcelor of Luxembourg, the world's largest producer of steel.

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