Stelco announces filing of 34th monitor's report

HAMILTON, ON, Aug. 12 /CNW/ - Stelco Inc. (TSX:STE) advised today that
the Thirty Fourth Report of the Monitor in the matter of the Company's    
Court-supervised restructuring was filed late this afternoon.
The purpose of the Report is to advise the Court with respect to the
process for the filing of and determination of claims by the USW International
and USW Locals 8782 and 5328.
The Report also advises that the rapidly changing dynamics of the North
American steel market have affected Stelco's internal financial forecasts and
that further updated forecasts are expected to be provided to stakeholders on
a confidential basis in due course.
Commenting on meetings between Stelco and stakeholders commencing the
week of July 18, 2005, the Monitor indicates that the discussions have allowed
Stelco to explain its Plan Outline and to discuss considerations and rationale
for the Plan Outline with stakeholders. The Report expresses the view of the
Monitor that the discussions have been productive and further meetings are
advisable.
The full text of the Report can be accessed through a link available on
Stelco's Web site.

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 our Web site at www.stelco.ca.


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