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AK Steel Prices Note Offering

8 February 1999

AK Steel Prices Note Offering

    MIDDLETOWN, Ohio, Feb. 8 -- AK Steel today
announced that it has priced its new $450 million issue of ten-year senior
notes.  The notes, which have a coupon of 7.875%, are being offered at
99.623%.  Proceeds from the sale of the notes will be used to refinance the
$325 million outstanding amount of AK Steel's 10-3/4% Senior Notes Due 2004,
which become callable on April 1, 1999, and for general corporate purposes.
    The new notes have not been registered under the Securities Act of 1933
pursuant to an exemption from the registration requirements of the Act and may
not be offered or sold in the United States absent registration or an
available exemption.
    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.