March 6, 2006 — Stelco Inc.’s Board of Directors has approved a resolution authorizing an application for delisting the company's current common shares from the Toronto Stock Exchange (TSX). The application will request that the shares be delisted as of the close of trading on March 10, 2006.

Courtney Pratt, President and CEO commented, "We are making progress in our drive to completion. Key stakeholders have agreed on an implementation timetable and we are committed to working toward a successful conclusion in the near future."

As disclosed on previous occasions, there is insufficient value in the company under the approved restructuring plan to provide recovery for the current common shareholders. As a result, the existing common shares will be eliminated on plan implementation with no value being attributed to them.

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