Norambar announces $40 million credit facility

CONTRECOEUR, QC, July 28 /CNW/ - Norambar Inc. today announced that it
has obtained an arrangement for a new credit facility for operating purposes.
The new credit facility of $40 million will cover Norambar Inc. and Fers et
MDetaux RecyclDes LtDee and replace the old facility of $30 million. The facility
expires January 28, 2007.
The lenders are CIT Business Canada Inc. with GE Canada Finance Inc.

About Norambar
Norambar Inc. is a modern mini-mill located in Contrecoeur, QuDebec, where
it employs more than 400 qualified people. Norambar supplies over 600,000 tons
of quality bars and billets for the automotive, construction, service centre
and railway industries. Over 60% of its production is sold outside Canada. An
important recycler, Norambar is also involved in ferrous and non-ferrous scrap
metal recuperation and processing through Fers et MDetaux RecyclDes LtDee of La
Prairie, QuDebec, and Cyclomet of Scoudouc, New Brunswick. Norambar is a wholly
owned subsidiary of Stelco Inc.

About Stelco
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 www.stelco.ca.

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