Stelco Inc. announced that it will appear in Court on July 18, 2005 to seek an extension of the stay period in its Court-supervised restructuring from that date until September 9, 2005.

Stelco also announced that it will file a restructuring Plan Outline with the Court on Friday, July 15, 2005. The Plan Outline will reflect the company's discussions with stakeholders during the past 17 months. It will endeavor to balance the interests of those stakeholders, which in many cases are inconsistent, in a fair, reasonable and responsible manner, in an effort to facilitate Stelco’s emergence as a viable company over the long term.

The company further indicated that it will return to Court on or before September 9, 2005 to file a formal restructuring plan, to seek a further stay extension, and to seek a Meeting Order. That Order, if granted, will approve the procedures with respect to the calling and conduct of a meeting of affected creditors to consider and vote upon the company's restructuring plan, as well as the manner in which the materials for such meeting will be distributed.

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.