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Weirton Steel Retirees
to Have Benefit Options

March 18, 2004 — Weirton Steel Corp.’s retirees will be informed of continued health care options, known as COBRA, in light of a federal bankruptcy judge’s ruling earlier this week to terminate such benefits effective April 1. The judge, based in Wheeling, W.Va., granted Weirton Steel’s motion to terminate health care and life insurance benefits for its nearly 9,500 retirees, their spouses and eligible dependents.

Weirton Steel will be mailing letters within days to its retirees explaining the benefits termination that occurred in court. Notices of the COBRA program, which will be offered to both hourly and salaried retirees, will be mailed shortly after April 1. If a retiree elects COBRA, he or she will be able to reinstate coverage at their expense, but without any coverage lapse.

Weirton Steel also is reminding retirees of prior communications regarding the Health Coverage Tax Credit. Retirees between ages 55 and 65 may be eligible for the federal program which pays 65 percent of qualified health insurance premiums.

Weirton Steel cited its financial position and bankruptcy as factors to seek the termination of the company-paid benefits programs. The steelmaker filed for Chapter 11 bankruptcy protection on May 19, 2004.

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