Stelco Inc. has mailed to creditors a Notice of Proceedings and Meetings and Information Circular concerning the company's previously announced restructuring plan.

The Notice of Proceedings and Meetings provides details surrounding the creditor meetings to be held on November 15, 2005. The creditor meetings are being held for the purpose of considering and voting on the restructuring plan.

The Information Circular contains background, details, and additional materials related to the restructuring plan. The Information Circular also contains the Court-appointed Monitor’s recommendation that affected creditors approve the company's restructuring plan. The Monitor believes the plan will produce a more favorable result for affected creditors than would the realization of Stelco's underlying assets and businesses in the event that a plan of arrangement is not implemented.

If the plan outlined in the Information Circular is implemented, the company's common shares will effectively be cancelled without compensation to the existing holders of those shares.

The Notice of Proceedings and Meetings and Information Circular can be accessed through a link available on Stelco's website.

Regarding the bondholders motion seeking leave to appeal from the Court order authorizing Stelco to enter into certain agreements with the Province of Ontario, Tricap Management Limited and the USW, Stelco noted that the motion will be heard by the Ontario Court of Appeal on November 2, 2005.

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.