Court also approves sale of Norambar, Stelfil and Stelwire HAMILTON, ON, Dec. 12 /CNW/ - Stelco Inc. (TSX:STE) today was granted an Order of the Superior Court of Justice (Ontario) extending the stay period under its Court-supervised restructuring from today until January 31, 2006. In its 43rd Report, which was filed today, the Court-appointed Monitor expressed the view that such an extension would be in the interests of all stakeholders. This period would allow Stelco to take the steps necessary to seek Court approval of the restructuring plan approved by affected creditors on December 9, 2005. The full text of the 43rd Monitor's Report can be accessed through a link available on Stelco's web site. Courtney Pratt, Stelco President and Chief Executive Officer, said, "This extension provides us with the time to seek the Court's approval of the plan that was accepted by affected creditors on Friday. If that approval is granted, we can then begin the process of emerging from Court protection." The Court's sanction hearing to consider the plan that was approved by affected creditors will occur on January 17, 2006. During this morning's hearing the Court also approved the previously- announced sale of Norambar Inc., Stelfil LtDee. and Stelwire Ltd. to Mittal Canada Inc. 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