Stelco announces mailing of restructuring plan information

Also provides update on bondholders' motion for leave to appeal

HAMILTON, ON, Oct. 14 /CNW/ - Stelco Inc. (TSX:STE) today announced that
it has mailed to creditors a Notice of Proceedings and Meetings and
Information Circular concerning the Company's previously announced
restructuring plan.
The Notice of Proceedings and Meetings provides details surrounding the
creditor meetings to be held on November 15, 2005 for the purpose of
considering and voting on the restructuring plan.
The Information Circular contains background to, details of, and other
material concerning the restructuring plan.
The Information Circular also contains the recommendation of the    
Court-appointed Monitor that affected creditors approve the Company's
restructuring plan. The Monitor expresses the view that the plan will produce
a more favourable result for affected creditors than would the realization of
Stelco's underlying assets and businesses in the event that a plan of
arrangement is not implemented.
If the plan outlined in the Information Circular is implemented, the
Company's common shares will effectively be cancelled without compensation to
the existing holders of those shares.
The Notice of Proceedings and Meetings and Information Circular can be
accessed through a link available on Stelco's web site.
In another matter, the Company provided an update in the matter of a
motion by certain bondholders seeking leave to appeal from the Court order
authorizing Stelco to enter into certain agreements with the Province of
Ontario, Tricap Management Limited and the USW. That motion will be heard by
the Ontario Court of Appeal on November 2, 2005.

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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