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AK Steel Completes Consent Solicitation

2 August 1999

AK Steel Completes Consent Solicitation

    MIDDLETOWN, Ohio, Aug. 2 -- AK Steel today
announced that it has successfully completed its 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.  In addition, Armco today announced the successful
completion of its consent solicitation with respect to its 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).
    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.