HAMILTON, ON, Dec. 9 /CNW/ - Stelco Inc. (TSX:STE) today announced that the Forty-Second Report of the Monitor in the matter of the Company's Court- supervised restructuring has been filed. The full text of the Report can be accessed through a link available on Stelco's web site. The Report deals exclusively with the previously-announced signing of a definitive agreement for the sale of the shares of AltaSteel Ltd. and related assets to Moly Cop Steel Inc., an affiliate of Scaw International Sarl, subject to Court approval. The Monitor reviews the history of AltaSteel, the nature of its business, the sale process that was followed and terms of the agreement. The Report notes that Stelco has advised the Monitor that it will seek an Order on Friday, December 16, 2005 to approve the sale and to seal certain terms in the agreement until confirmation that the transaction has closed or until further order of the Court. The Monitor indicates its view that Stelco and its advisors adequately canvassed the market for prospective purchasers, that the purchase price is fair and commercially reasonable under the circumstances, and that a sealing order is appropriate and reasonable as it protects certain commercially sensitive information from being disclosed until the transaction is closed or until further order of the Court. Based on these considerations, the Monitor recommends that the sale be approved and that a sealing order be granted until confirmation that the transaction has closed or until further order of the Court. 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. %SEDAR: 00001549E