HAMILTON, ON, Feb. 9 /CNW/ - Stelco Inc. (TSX:STE) today announced that the Fiftieth Report of the Monitor in the matter of the Company's Court- supervised restructuring was served last evening and is being filed this morning. The full text of the Report, including appendices, can be accessed through a link available on Stelco's web site. The Report provides an update on the previously-announced proposed reorganization of Stelco's corporate structure, in which distinct portions of the Company's business would be transferred into separate limited partnerships. The Monitor recommends that the Court grant an Order approving the proposed corporate reorganization, to be accomplished by way of plan of arrangement under the Canada Business Corporations Act, at a hearing to be held on February 10, 2006. The Report acknowledges, however, that even with this approval, significant work remains to be done. This work includes settling definitive documentation and resolving outstanding issues with key stakeholders in order to enable Stelco to implement the plan of arrangement and exit from Court protection under the Companies' Creditors Arrangement Act, which is scheduled to occur during the first quarter of 2006. About Stelco Stelco is one of Canada's longest-established steel companies. It is currently in the final stages of a Court-supervised restructuring. This process is designed to establish the Company as a viable and competitive producer for the long term. The new Stelco will be focused on its Ontario- based integrated steel business 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 2004 Annual Report. To learn more about Stelco and its businesses, please refer to our Web site at www.stelco.ca. %SEDAR: 00001549E