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AK Steel Issues Profit-Sharing Checks for Fifth Consecutive Year

5 February 1999

AK Steel Issues Profit-Sharing Checks for Fifth Consecutive Year

    MIDDLETOWN, Ohio, Feb. 5 -- Despite the most challenging
marketplace in recent history, hourly employees of AK Steel are
receiving profit-sharing checks for a fifth consecutive year. The checks for
1998 performance average $1,900, bringing to nearly $15,000 the total
profit-sharing average for AK Steel hourly employees since the first-ever
profit-sharing payments were made for 1994 performance. In total, AK Steel
employees have earned more than $100 million in profit sharing since 1994.
    "AK Steel employees should be especially proud of their efforts in 1998,"
said Richard M. Wardrop, Jr., chairman and chief executive officer of AK
Steel. "AK Steel's safety performance, our first priority, continued to lead
the steel industry and was improved significantly over 1997 when we led the
industry in every category. Quality also continued to improve, resulting in
numerous prestigious awards from our customers. And at a time when many
domestic steel companies were idling facilities and furloughing employees, AK
Steel employees were setting productivity and shipping records," he said.
    AK Steel produces carbon and stainless flat-rolled steel for automotive,
appliance, construction and other markets. The company employs about 5,800
people in plants and offices in Middletown, Ashland, Kentucky and Rockport,
Indiana.