HAMILTON, ON, Aug. 29 /CNW/ - Stelco Inc. (TSX:STE) announced today that Hamilton Land Limited Partnership and Stelco Inc. have entered into an agreement to sell a parcel of non-core, surplus land to the Hamilton Port Authority. The agreement provides that the Hamilton Port Authority will purchase the land, consisting of approximately 103 acres and a building contained on the land, for total cash proceeds of $17.5 million. Completion of the purchase is expected to take place by the end of 2006 and is subject to a number of conditions. The net proceeds from the purchase will be used to reduce the outstanding indebtedness of Stelco under its secured revolving term loan facility. About Stelco Stelco is one of Canada's longest-established 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. 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 2005 Annual Report. To learn more about Stelco and its businesses, please refer to our Web site at www.stelco.com. %SEDAR: 00001549E