Stelco notes filing of Osborne report

HAMILTON, ON, Sept. 21 /CNW/ - Stelco Inc. (TSX:STE) has noted today's
filing with the Court of a report prepared by the Hon. Coulter Osborne, who
was appointed a Special Officer of the Court on September 7, 2005. His mandate
was to assist and report to the Court on a review conducted by a Special
Committee of Stelco's Board of Directors. That review examined complaints
lodged by two former directors.
The Special Officer's report confirms the appropriateness of the process
and findings of the Special Committee in these matters.
The Special Officer's report can be accessed through a link available on
Stelco's web site. The report of the Special Committee itself is internal to
the Board and is, therefore, confidential. As a result, Stelco's Board of
Directors will refrain from further public comment in this matter.
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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