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Stelco Obtains Extension of Stay Period

Feb. 24, 2004 — Stelco and the other Stelco companies involved in the CCAA restructuring process obtained a court order extending the companies’ stay of proceedings until May 28, 2004.

The initial order, granted on January 29, 2004, provided for a stay of proceedings until February 27, 2004.

Stelco Inc., Canada's largest and most diversified steel producer, is involved in all major segments of the steel industry through its integrated steel business, mini-mills, and manufactured products businesses. Stelco has a presence in six Canadian provinces and two states of the United States. Consolidated net sales in 2002 were $2.8 billion.

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