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AK Steel Redeems 10-3/4 Percent Notes

2 April 1999

AK Steel Redeems 10-3/4 Percent Notes

    MIDDLETOWN, Ohio, April 1 -- AK Steel today
announced that it had redeemed all $325 million of its outstanding 10-3/4%
Notes due 2004.  Funds for the redemption were derived from proceeds of the
recent sale by AK Steel of $450 million of 7-7/8% Senior Notes due 2009.
    AK Steel produces low-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.