Bethlehem Steel Corporation
For Immediate Release

BETHLEHEM, Pa., October 22, 1999 -- In response to an inquiry regarding an announcement that Governor Tom Ridge has approved a $2.5 million grant to the Philadelphia, Bethlehem and New England Railroad for its BethIntermodal Terminal, Hank Barnette, chairman and chief executive officer of Bethlehem Steel Corporation, the parent company, issued the following statement:

"The BethIntermodal Terminal is in its early start up stage, and already it is performing at a rate beyond early expectations.  The announcement today by Governor Tom Ridge that he has approved a $2.5 million grant to the Philadelphia, Bethlehem and New England Railroad for the further development of the BethIntermodal Terminal at Bethlehem Commerce Center is welcome news for the economic growth of our area.  We applaud Governor Ridge's leadership and support for this public-private partnership project, and acknowledge the efforts of our local legislators who also supported the legislation."