LTV Hires Restructuring Firm; Reports Progress in Financing Activities

    CLEVELAND, Jan. 25 The LTV Corporation
(OTC Bulletin Board: LTVCQ) today announced the hiring of Jay Alix &
Associates, a recognized leader in corporate and operational restructuring.
James J. Bonsall, Jr., a principal in the firm, will lead the effort to
restructure LTV's integrated steel operations.  Mr. Bonsall has led the
successful turnaround of auto parts manufacturing, pharmaceutical distribution
and air transport companies.
    "Jim Bonsall will assist me in designing and implementing a strategy that
will maximize the value of the Company for its many and diverse stakeholders.
Our objective is to secure the long-term viability of LTV by restructuring the
integrated steel operations to succeed in today's highly competitive
environment," said William H. Bricker, LTV's chairman and chief executive
officer.
    "Jim Bonsall is experienced in solving the complex problems facing
manufacturing companies.  He will devote all of his time to developing
permanent solutions to the fixed cost and operating problems facing LTV's
integrated steel operations," Mr. Bricker said.  Mr. Bricker said that he was
committed to completing LTV's restructuring as quickly as possible.  He said
that the day-to-day operation of LTV's integrated steel and metal fabrication
businesses continues to be managed by the respective subsidiary presidents.
    LTV also said that it is encouraged by the progress of its efforts to
secure permanent financing for its restructuring and reorganization efforts.
LTV officials continue to hold discussions with its syndicated group of
lenders.  Mr. Bricker noted that required documentation and due diligence
activities are underway and expected the financing arrangements to be
completed within the next few weeks.
    The LTV Corporation is a manufacturing company with interests in steel and
metal fabrication.  LTV's Integrated Steel segment is a leading producer of
high-quality, value-added flat rolled steel, and a major supplier to the
transportation, appliance, electrical equipment and service center industries.
LTV's Metal Fabrication segment consists of LTV Copperweld, the largest
producer of tubular and bimetallic products in North America and VP Buildings,
a leading producer of pre-engineered metal buildings for low-rise commercial
applications.
    This press release includes forward-looking statements.  Our uses of the
words "outlook," "anticipates," "believes," "estimate," "expect" and similar
words are intended to identify these statements as forward looking.   These
statements represent our current judgement on what the future holds.  While
the Company believes them to be reasonable, a number of important factors
could cause actual results to differ materially from those projected.  These
factors include relatively small changes in market price or market demand;
changes in domestic capacity; changes in raw material costs; increased
operating costs; loss of business from major customers, especially for high
value-added product; availability of post petition financing; negative market
and credit impact from the Chapter 11 filing; unanticipated expenses;
substantial changes in financial markets; labor unrest; unfair foreign
competition; major equipment failure; unanticipated results in pending legal
proceedings; difficulties in implementing information technology; and other
factors.