HAMILTON, ON, Nov. 30 /CNW/ - Stelco Inc. (TSX:STE) announced today that it is recommending to the Court-appointed Monitor that the creditors' meetings in the matter of the Company's restructuring be adjourned when they resume on December 2, 2005. The Company is also recommending that the meetings of its affected subsidiaries be adjourned as well. The Company believes that the recommended adjournments are appropriate so that details of the restructuring plan to be voted upon at the meetings can be finalized and Board approval can be sought. The details being finalized relate to, among other things, the substance of the agreement between certain stakeholders on a restructuring plan announced on November 23, 2005. The Monitor has indicated that it will likely exercise its discretion and allow the adjournments on December 2, 2005. If the adjournments are allowed, no other business would be conducted on that day. Stelco indicated that it is making this announcement now in order to minimize any inconvenience to stakeholders who might otherwise have travelled to the meetings on December 2, 2005 expecting to vote on a plan. The Company added that details of an amended restructuring plan will be circulated and posted to a link available on its Web site in advance of the meetings to consider and vote on a plan. Courtney Pratt, Stelco President and Chief Executive Officer, said, "With input from stakeholders, Stelco is in the process of finalizing the details of a plan that will be submitted to affected creditors for their consideration. While progress is being made, the process is taking longer to conclude than was envisioned a week ago." 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