Rouge Industries Secures $250 Million Revolving Loan Facility

    DEARBORN, Mich., March 13 Rouge Industries, Inc.
reported today that it has closed on a new $250 million revolving
loan facility with Congress Financial Corporation.

    According to Carl L. Valdiserri, chairman and chief executive officer of
the Company, "The higher borrowing facility became necessary due to the
continued assault on the U.S. marketplace by foreign steel producers who are
exporting their excess steel production to the U.S. and are undermining the
responsible pricing of steel products in our markets.  Our new loan facility
should provide Rouge Industries adequate liquidity during this severe economic
period."

    In a separate action, the Rouge Industries Board of Directors approved a
33% reduction in the Company's quarterly cash dividend commencing in the first
quarter of 2001.  The Board approved a first quarter cash dividend of two
cents ($0.02) per share payable on April 20, 2001 to shareholders of record at
the close of business on April 6, 2001.

    According to Gary P. Latendresse, vice chairman and chief financial
officer of the Company, "The dividend reduction balances the interests of the
shareholders and the Company's need to conserve cash.  It's a responsible
action by the Board of Directors given the serious financial challenges facing
our business and industry."  Rouge Industries has paid a cash dividend for 27
consecutive quarters beginning in April 1994.