Feb. 17, 2006 — Twelve North American steel companies have joined together under a special initiative to help rebuild the U.S. Gulf Coast region in the aftermath of hurricanes Katrina and Rita. Collectively, they have committed $1.1 million to support the Gulf Coast Steel Initiative through a business plan put together by the American Iron and Steel Institute (AISI). The Initiative's ultimate goal is to "rebuild stronger with steel" a region subject to severe storms.

The newly launched Gulf Coast Steel Initiative will focus on implementing long-term strategies to positively impact future construction practices in the region. "The strength of this commitment is based on the significant investment made by the industry in Market Development over the past five years that provides steel-based solutions to the rebuilding challenges we're seeing in the Gulf Coast region," AISI Chairman John Surma, Chairman and CEO of United States Steel Corp. said. "The $1.1 million funding for the Gulf Coast Steel Initiative is in addition to more than $7 million already contributed to the disaster relief effort by North American steel companies on an individual basis."

After discussions with local, state and federal officials involved in disaster relief efforts, the companies supporting the Gulf Coast Steel Initiative decided on a course of action focused on the residential market, where the needs are clearly the greatest. Resources will help to mobilize efforts that support local communities and businesses in the rebuilding process that utilize the expertise available through AISI's Market Development programs, particularly in the areas of steel framing and roofing. In addition, steel is playing a major role in solid waste reduction through its recycling program.

"Like everyone else, we were amazed at the extent of damage sustained by the Gulf Coast region," Andrew G. Sharkey III, President and CEO of AISI, said. "After a comprehensive review of the needs throughout the region and a universal concern to rebuild it stronger than before, we recognized that our industry had a lot to offer that could impact the region for years to come. Through our long-term investment in Market Development, we have established a number of steel-based solutions that can help to rebuild homes and the infrastructure of the region while also helping to fortify it against future storms."

"The Gulf Coast Steel Initiative is yet another demonstration of the value of a strong North American steel industry and its important role in the lives and economies of the nations it serves. We're pleased that Canadian and Mexican companies also joined in this important rebuilding initiative," said Sharkey.

He said the Gulf Coast Steel Initiative supporting companies would welcome the participation of other organizations with similar goals to provide steel-intensive solutions for rebuilding the region.

The Gulf Coast Steel Initiative objectives are to:

1. Work with affected communities to support the use of state-of-the-art design and construction practices for hurricane-prone areas by providing educational programs for building inspectors.
2. Encourage the introduction of insurance and lending programs that promote the use of durable construction materials.
3. Partner with local contractors and technical schools to train workers on how to build homes using steel framing and roofing.
4. Assist with clean-up efforts by facilitating steel product recycling throughout the region, which will provide business owners and consumers with information on where they can take their steel products to have them recycled.

Progress being made by the Gulf Coast Steel Initiative will be reported on the AISI website. The site is currently under construction.

AISI is a non-profit association of North American companies engaged in the iron and steel industry. The Institute serves as the voice of the North American steel industry, speaking out on behalf of its members in the public policy arena and advancing the case for steel in the marketplace as the preferred material of choice. AISI also plays a lead role in the development and application of new steels and steelmaking technology. AISI is comprised of 33 member companies, including integrated and electric furnace steelmakers, and 118 associate and affiliate members who are suppliers to or customers of the steel industry.