Clarification of semi-annual interest rate for Stelco's floating rate note

HAMILTON, ON, Sept. 28 /CNW/ - Stelco Inc. (TSX:STE) today announced that it has clarified the rate of interest per annum, for the period from September 30, 2007 to March 30, 2008 inclusive, for Stelco's floating rate notes due 2016 (the "Notes"). On September 27, 2007, Stelco previously announced that, for that period, the rate of interest per annum for the Notes would be 10.64%.

Stelco has now clarified that, for the period from September 30, 2007 to March 30, 2008 inclusive, the rate of interest per annum for the Notes will be 10.64438%. The foregoing interest rate, which has been established in accordance with the terms of the indenture governing the Notes (the "Indenture"), is subject to adjustment in certain circumstances as provided for in the Indenture.

About Stelco

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. To learn more about Stelco and its businesses, please refer to our Web site at www.stelco.ca.

%SEDAR: 00001549E