HAMILTON, ON, May 4 /CNW/ - Stelco Inc. (TSX:STE) announced today that William E. (Bill) Vaughan will retire as Chief Financial Officer of the Company, effective May 20, 2006. Bill has had a distinguished 38-year career with Stelco. A Certified Management Accountant, he joined the Company in 1968. Since then he has held a number of executive positions in the areas of administration, planning and control, and finance. He was named Senior Vice President - Finance in January 2004 and Chief Financial Officer in April of that year. He played a central role in the Company's recent successful restructuring under the Companies Creditors Arrangement Act. Bill has indicated that he is prepared to assist during a transition period. About Stelco Stelco is one of Canada's largest publicly-traded 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.ca. %SEDAR: 00001549E