Bethlehem Steel Corporation
For Immediate Release

BETHLEHEM, Pa., December 15, 1999 - Curtis H. Barnette, chairman and chief executive officer, Bethlehem Steel Corporation, announced today the election by Bethlehem�s board of directors of Duane R. Dunham as chairman, president and chief executive officer, effective upon Mr. Barnette�s retirement on April 25, 2000.

In announcing Mr. Dunham�s election, Mr. Barnette said:

"Duane has demonstrated the necessary leadership skills and qualifications to advance Bethlehem successfully toward its vision to Be the Premier Steel Company as we enter a new century. He has served with distinction in a number of significant commercial and operating assignments, including vice president, marketing, for the corporation; president, Sparrows Point, Md., Division; executive vice president, commercial and business development, for the corporation and in his current position of president and chief operating officer. This broad experience will serve our customers, employees, communities and stockholders well as we advance our plans to strengthen and profitably grow our business."

Mr. Dunham said, "Bethlehem Steel Corporation faces enormous competitive challenges in the years ahead, and I am honored and humbled by the awesome responsibility that the board of directors has placed on me to lead our great company through this exciting period. I accept the challenge before me with full confidence, knowing that Bethlehem�s employees have the desire, dedication and ability to deliver a winning performance for our shareholders. Hank Barnette�s leadership in the industry and in our company provides a solid base on which to grow Bethlehem into the consistent winner and Premier Steel Company that it can be."

A native of Birmingham, Mich., Mr. Dunham received a bachelor of science degree in administration in 1964 from Western Michigan University and a master of science degree in administration from The Pennsylvania State University in 1969. He completed the Advanced Management Program at Stanford University�s Graduate School of Business in 1991.

Mr. Dunham joined Bethlehem Steel in 1965 and first served as a salesman in Buffalo, N.Y. He was transferred to Bethlehem, Pa., in 1971 as a salesman in the galvanized and specialty sheet sales division, in which he later served as product specialist, assistant manager and manager.

In 1986, Mr. Dunham was promoted to general manager, marketing services, and the following year advanced to general manager, tin mill product sales and marketing. He was named general manager, marketing, in 1988. Mr. Dunham was elected vice president, marketing, in 1990. In 1993, he was elected president, Sparrows Point Division. He was elected vice president, commercial and business development, effective January 1, 1999, and president and chief operating officer and a member of Bethlehem�s board of directors, effective August 1, 1999.

Professionally, Mr. Dunham is a member of the American Iron and Steel Institute and was formerly the North American representative for the Committee for Promotion and Market Development of the International Iron and Steel Institute. In the community, while a resident of Maryland, he was a member of the boards of directors of the United Way in Central Maryland, Maryland Chamber of Commerce, the Maryland Business Roundtable for Education and the Executive Council of Junior Achievement for Central Maryland.

Mr. Dunham and his wife, Glenna, reside in the Bethlehem area. They are the parents of three adult children.