For Immediate Release

Public Relations Division
Public Affairs Department
1170 Eighth Avenue
Bethlehem, PA 18016-7699
(610) 694-3711 - Phone
(610) 694-1509 - Fax

BETHLEHEM, Pa., March 15, 1996 -- Bethlehem Steel Corporation made 1995 profit-sharing payments today to about 14,000 salaried and hourly employees.

Salaried employees will receive profit-sharing payments based upon corporate profitability and/or business unit performance for 1995.

Under the terms of the 1993 master labor agreement between Bethlehem and the United Steelworkers of America, represented employees will receive payments at the Burns Harbor (Ind.) Division, including the Division's Lackawanna (N.Y.) galvanizing and coke operations, and at the Sparrows Point (Md.) Division. Profit-sharing payments are being distributed to employees of these Business Divisions based upon the adjusted annual consolidated income of the Corporation and the individual performance of each Business Division determined by its income before interest and taxes (IBIT).

For represented employees, payments will average about $4,600 at Burns Harbor and $2,100 at Sparrows Point. Represented employees at Bethlehem Structural Products Corporation, BethForge, Pennsylvania Steel Technologies, Inc., and CENTEC are covered by the terms of their separate profit-sharing plans. These plans are based on the financial performance of the Divisions determined by their IBIT. BSPC, BethForge, PST and CENTEC did not have a positive IBIT for 1995 and thus there was no profit-sharing.

Curtis H. Barnette, Bethlehem's chairman, acknowledged the positive contributions of Burns Harbor and Sparrows Point in improving the corporation's profitability "and helping to move Bethlehem toward our vision of being the Premier Steel Company." He said that one of Bethlehem's most important goals for the future is to return all of its operating Divisions to profitability "to enable each and every Bethlehem employee to realize the benefits associated with a profitable operation."