March 15, 2006 — Stelco Inc. confirmed that, as it had requested, its common shares were delisted from the Toronto Stock Exchange as of the close of trading on Friday, March 10, 2006. Filing of the delisting application had been authorized by Stelco’s board of directors.

Stelco commented that, as has been disclosed on previous occasions, there is insufficient value in the company under the approved restructuring plan to provide recovery for the current common shareholders. On plan implementation, the existing common shares will be eliminated with no value being attributed to them.

Stelco is expected to emerge from its Court-supervised restructuring on March 31, 2006. At that time, new common shares will be issued under the approved restructuring plan and are expected to begin trading on the TSX on April 3, 2006, subject to certain conditions.

Stelco is one of Canada's longest-established steel companies. It is currently in the final stages of a Court-supervised restructuring, a process that is designed to establish the company as a viable and competitive producer for the long term. The new Stelco will be focused on its two Ontario-based integrated steel businesses located in Hamilton and in Nanticoke, producing high quality value-added hot rolled, cold rolled, coated sheet and bar products.