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Rouge Industries, Inc. Declares Fourth Quarter Dividend

8 December 1998

Rouge Industries, Inc. Declares Fourth Quarter Dividend

    DEARBORN, Mich., Dec. 7 -- Rouge Industries, Inc.
announced today that its Board of Directors approved a fourth quarter cash
dividend in the amount of three cents ($0.03) per share payable on January 22,
1999 to shareholders of record at the close of business on January 8, 1999.
    Rouge Industries is the parent holding company of Rouge Steel Company
whose fully integrated steel making facilities and corporate offices are
located in Dearborn.  Rouge Steel Company principally serves the automotive,
converter and service center markets.

    Safe Harbor Statement
    This press release contains forward-looking information about the Company.
A number of factors could cause the Company's actual results to differ
materially from those anticipated, including changes in the general economic
climate, the supply of or demand for and the pricing of steel products in the
Company's markets, potential environmental liabilities and higher than
expected costs.  For further information on these and other factors that could
impact the Company and the statements contained herein, reference should be
made to the Company's filings with the Securities and Exchange Commission.