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Weirton Steel Noteholders Committee to Move Forward with Bid at Auction

April 10, 2004 — The Informal Committee of Senior Secured Noteholders of Weirton Steel Corp., in conjunction with J.P. Morgan Trust Co., National Association, solely in its capacity as indenture trustee for the 10% Senior Secured Notes Due 2008 issued by Weirton Steel Corp., indenture trustee for the Secured Pollution Control Revenue Refunding Bonds Series 2002 and as Collateral Agent, announced that it has been qualified as a bidder for the assets of Weirton Steel.

The auction for the assets is scheduled to take place on Monday, April 12, 2004.

As previously announced, the Noteholders Committee believes its bid to be superior to the competing bid both in terms of cash value and recovery to creditors. The Noteholders Committee reiterates its commitment to operate the business long-term, make important capital improvements to Weirton's facilities, and protect as many unionized jobs as possible.

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