Stelco Inc.’s court-appointed Monitor has filed its thirtieth Report regarding the company's Court-supervised restructuring. The Report provides updated information regarding the proposal for a mediation process, which was originally outlined in the Monitor's 29th Report.

The Monitor consulted with representatives of various stakeholder groups regarding the concept of a mediation, as well as the appointment of the Hon. George Adams as the mediator.

The Report states that the Hon. George Adams has indicated his willingness to serve as mediator. The Monitor adds that, should he be appointed mediator, Mr. Adams would be available to begin meeting with stakeholders regarding the process during the week of May 23, 2005. The Report adds that the Monitor would be prepared to participate in the process to whatever degree the Court directs or the mediator may request.

Stelco Inc. is a large, diversified steel producer involved in major segments of the steel industry through its integrated steel business, minimills, and manufactured products businesses.