August 22, 2008

Stelco shareholders formally approve takeover by US Steel

Stelco Inc announced that at the special meeting of shareholders held on October 26th 2007, the shareholders of Stelco overwhelmingly approved the arrangement of the Corporation under section 192 of the Canada Business Corporations Act involving the acquisition by an indirect wholly owned subsidiary of United States Steel Corporation of all of the common shares of Stelco.

The Arrangement was approved by approximately 99.99% of the votes cast at the special meeting. Subject to the satisfaction of the remaining conditions to the Arrangement, including the final order of the Court at the hearing scheduled for October 30th 2007, it is anticipated that the completion of the Arrangement will occur on or about October 31st 2007.

Stelco is one of Canada's largest steel companies. It is focused on its two Ontario based integrated steel businesses located in Hamilton and in Nanticoke. These operations produce high quality value-added hot rolled, cold rolled, coated sheet and bar products.