HAMILTON, ON, Nov. 15 /CNW/ - Stelco Inc. (TSX:STE) announced today that the meeting of its creditors to consider and vote upon the Company's restructuring plan has been adjourned until November 21, 2005. It also announced that the meetings of creditors of Stelco subsidiaries will also be adjourned to the same date. At meetings of the affected creditors of Stelco and certain of its subsidiaries held earlier today, the Company indicated to the Court-appointed Monitor that it was advisable to adjourn the meetings rather than proceed with votes at that time. The Monitor then exercised its discretion and ordered the adjournment. In requesting the adjournments Stelco expressed regret for the inconvenience caused by the adjournments. The Company indicated that the situation remained fluid as negotiations among stakeholder groups are continuing. Courtney Pratt, Stelco President and Chief Executive Officer, said, "While we remain hopeful that a consensual plan can be achieved, it's clear we can't get there today. The plan as currently filed is not acceptable to the majority of affected creditors. In that context, there seems little point in submitting the plan to a vote at this time." "An adjournment will provide time for negotiations among the parties to continue towards final resolution in a focused and timely manner," Mr. Pratt noted. "Our goal, as it has been throughout this process, is to secure a consensual restructuring. We want to address the concerns of bondholders while maintaining the support of those groups that have already endorsed the current plan. We believe this approach is the best way in which to achieve the most positive outcome for our stakeholders." 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