HAMILTON, ON, March 22 /CNW/ - Stelco Inc. announces that the Fifty-Fifth Report of the Monitor in the matter of the Company's Court-supervised restructuring was served today. The full text of the Report will be accessible through a link available on Stelco's web site. The Report deals exclusively with the steps that have been taken in recent weeks by Stelco, the Monitor and other relevant parties towards implementation of the restructuring plan under the Companies' Creditors Arrangement Act and the reorganization of Stelco's corporate structure under the Canada Business Corporations Act. The Monitor notes that the parties have been working diligently towards that objective. This activity has entailed the resolution of outstanding issues and the finalization of principal documents. The Report adds that Stelco, the Monitor and other relevant parties are of the view that a plan implementation date of March 31, 2006 is achievable. The Monitor concludes by expressing the view that the extension of the stay period to March 31, 2006 continues to be appropriate under the circumstances. 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 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 2004 Annual Report. To learn more about Stelco and its businesses, please refer to our Web site at www.stelco.ca. %SEDAR: 00001549E