Stelco Announces Filing of 50th Monitor's Report

HAMILTON, ON, Feb. 9 /CNW/ - Stelco Inc. (TSX:STE) today announced that
the Fiftieth Report of the Monitor in the matter of the Company's Court-
supervised restructuring was served last evening and is being filed this
morning. The full text of the Report, including appendices, can be accessed
through a link available on Stelco's web site.
The Report provides an update on the previously-announced proposed
reorganization of Stelco's corporate structure, in which distinct portions of
the Company's business would be transferred into separate limited
partnerships.
The Monitor recommends that the Court grant an Order approving the
proposed corporate reorganization, to be accomplished by way of plan of
arrangement under the Canada Business Corporations Act, at a hearing to be
held on February 10, 2006. The Report acknowledges, however, that even with
this approval, significant work remains to be done. This work includes
settling definitive documentation and resolving outstanding issues with key
stakeholders in order to enable Stelco to implement the plan of arrangement
and exit from Court protection under the Companies' Creditors Arrangement Act,
which is scheduled to occur during the first quarter of 2006.

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