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Department of Justice Completes AK Steel Merger Review

27 August 1999

Department of Justice Completes AK Steel Merger Review

    MIDDLETOWN, Ohio, Aug. 27 -- AK Steel today said
that the U.S. Department of Justice has completed its antitrust review of AK
Steel's proposed merger with Armco Inc. .  Accordingly, AK Steel and
Armco may now proceed with their merger, which will be submitted to a vote of
the stockholders of both companies on September 29, 1999.
    In connection with the Department of Justice review, AK Steel agreed to
grant Wheeling-Nisshin, Inc. rights under various AK Steel patents, effective
upon the closing of the merger, relating to hot-dip aluminum coated stainless
steel strip used primarily in automotive exhaust system applications.  The
license will enable Wheeling-Nisshin to proceed with product development
efforts that it previously initiated under arrangements with Armco.
    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.  Armco employs about 5,700 and is a leading producer of
specialty flat-rolled stainless, electrical and galvanized steels with plants
in Butler, Pennsylvania and Coshocton, Dover, Mansfield and Zanesville, Ohio.
Armco also produces snow and ice control products, standard pipe and tubular
products and operates a major industrial park on the Houston, Texas ship
channel.