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AK Steel Commences Consent Solicitation

19 July 1999

AK Steel Commences Consent Solicitation

    MIDDLETOWN, Ohio, July 19 -- AK Steel today
announced that it has commenced a consent solicitation with respect to
proposed amendments to the Indentures governing its 9-1/8% Senior Notes due
2006 (CUSIP No. 001546 AC 4) and 7-7/8% Senior Notes due 2009
(CUSIP No. 001546 AD 2).  The amendments are intended to facilitate the
orderly conduct of business, including the payment of regular dividends, by
AK Steel following its acquisition of Armco Inc.  A similar consent
solicitation is also being made by Armco to holders of its outstanding 9%
Senior Notes due 2007 (CUSIP No. 042170 AN 0) and 8-7/8% Senior Notes due 2008
(CUSIP No. 042170 AR 1).
    The record date to determine noteholders entitled to consent is
July 16, 1999.  The consent solicitation will expire July 30, 1999, unless
extended.  AK Steel will pay a consent fee of $1.25 for each $1,000 principal
amount of notes for which a consent is validly delivered and not revoked.
    Noteholders may direct any inquiries or requests for additional copies of
the consent solicitation statement to the Information Agent, Innisfree M&A
Incorporated at 877-750-2689 or the Lead Solicitation Agent, Credit Suisse
First Boston, at 800-320-1225.
    AK Steel produces flat-rolled steel products for automotive, appliance,
construction and manufacturing industries.  The company employs about
5,800 men and women in its plants and offices in Middletown, Ohio, Ashland,
Kentucky and Rockport, Indiana.