Bethlehem Steel Corporation
For Immediate Release

BETHLEHEM, Pa., October 21, 1999 -- The signing today of an agreement of sale for Bethlehem Steel Corporation's Manufacturers Water Company of Johnstown, Pa., to the Cambria Somerset Authority of Pennsylvania represents a major step in bringing the resources of Manufacturers under public ownership. The agreement must now go to the state Public Utility Commission for final review and approval before the sale can be completed. Both Bethlehem and the Authority are asking the PUC for expeditious attention to this very important transaction.

Curtis H. Barnette, Bethlehem's chairman and chief executive officer, lauded the resolve of the Authority in bringing about the agreement of sale of Manufacturers Water Company.

"Bethlehem Steel can now be confident that future operation and development of Manufacturers' extraordinary facilities will be under community control," said Mr. Barnette. "Our commitment to local ownership serves to underscore Bethlehem Steel's objective of being a good corporate citizen. We are pleased that U.S. Representative John P. Murtha, Conservation and Natural Resources Secretary John C. Oliver and Environmental Protection Secretary James M. Seif have been actively involved in this visionary project which will assure the conservation of this important public resource."

Mr. Barnette emphasized that Bethlehem Steel will be following closely the progress of the pending sale agreement at the PUC.