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AK Steel Completes Merger    

1 October 1999

AK Steel Completes Merger    

    MIDDLETOWN, Ohio, Sept. 30 -- AK Steel today
announced that its merger with Armco Inc. has become effective.  As a result
of the merger, the business and operations of Armco will now be conducted by
and in the name of AK Steel.  Armco shares will cease to trade on the New York
Stock Exchange as of the close of business today.
    "Today marks the beginning of an exciting new chapter in the growth of AK
Steel," said Richard M. Wardrop, Jr., chairman and chief executive officer.
"We are eager to meld together under one name some of the finest steelmaking
facilities and organizations in the world.  The shareholders of both companies
have voted their confidence in this merger and today we set about the work of
building upon the value of AK Steel."
    AK Steel produces flat-rolled carbon, stainless and specialty electrical
steel products for automotive, appliance, construction and manufacturing
markets, as well as standard pipe and tubular steel products.  AK Steel is
headquartered in Middletown, Ohio.  It employs about 11,500 men and women in
plants and offices in Middletown, Coshocton, Dover, Mansfield, Warren and
Zanesville, Ohio; Ashland, Kentucky; Rockport, Indiana and Butler, Sharon,
Wheatland and Pittsburgh, Pennsylvania.  The company also produces snow and
ice control products and operates an industrial park on the Houston, Texas
ship channel.