Stelco announces filing of 41st Monitor's Report

HAMILTON, ON, Dec. 7 /CNW/ - Stelco Inc. (TSX:STE) today announced that
the Forty-First Report of the Monitor in the matter of the Company's      
Court-supervised restructuring has been filed. The full text of the Report can
be accessed through a link available on Stelco's web site.
The Report deals exclusively with the previously-announced signing of a
definitive agreement for the sale of 100% of the shares of Norambar Inc.,
Stelfil LtDee and Stelwire Ltd. and related assets to Mittal Canada Inc.
The Monitor reviews the history of these non-core assets, the nature of
their businesses, the sale process that was followed and terms of the
agreement.
The Report notes that Stelco has advised the Monitor that it will seek an
Order on Monday, December 12, 2005 to approve the sale and to seal certain
terms in the agreement until confirmation that the transaction has closed or
until further order of the Court.
The Monitor indicates its view that Stelco and its advisors adequately
canvassed the market for prospective purchasers, that the purchase price is
fair and commercially reasonable under the circumstances, and that a sealing
order is appropriate and reasonable as it protects certain commercially
sensitive information from being disclosed until the transaction is closed or
until further order of the Court. Based on these considerations, the Monitor
recommends that the sale be approved and that a sealing order be granted until
confirmation that the transaction has closed or until further order of the
Court.

Stelco Inc. is a large, diversified steel producer. Stelco is involved in
major segments of the steel industry through its integrated steel business,
mini-mills, and manufactured products businesses.

This news release may contain forward-looking information with respect to
the Corporation's business operations, financial performance and conditions.
Actual results may differ from expected results for a variety of reasons
including factors discussed in the Corporation's Management's Discussion and
Analysis section of the Corporation's 2004 Annual Report. To learn more about
Stelco and its businesses, please refer to our Web site at www.stelco.ca.

%SEDAR: 00001549E