Bethlehem Steel Corporation
For Immediate Release

BETHLEHEM, Pa., September 2, 1999 -- Bethlehem Steel Corporation (www.bethsteel.com) confirmed today that it has agreed to become an equity partner in MetalSite, an internet metals community where companies can buy or sell metal products and services. MetalSite was formed just over a year ago, and currently offers buyers the opportunity to bid on secondary and excess steel products as soon as they are listed on the internet site.

Under today's agreement, Bethlehem Steel will take an equity interest in MetalSite and sell products through the Pittsburgh-based company. MetalSite was formed by Weirton Steel, LTV and Steel Dynamics, Inc. Metals distributor and processor, Ryerson Tull of Chicago, also announced its equity interest in MetalSite today.

Curtis H. Barnette, chairman and chief executive officer of Bethlehem Steel, said, "In our view, MetalSite is the steel industry leader in the development of a neutral on-line market place for business-to-business commerce. The MetalSite community will provide both buyers and sellers an additional opportunity to conduct business in an efficient and cost-effective manner. Bethlehem Steel Corporation's investment in MetalSite is another step we are taking to enhance our leadership position in e-Business. This will complement and further advance our e-Business strategy that already includes our extensive Electronic Data Interchange activities and our corporate web-based applications development."

MetalSite, which currently has about 120,000 tons of product committed each month, is a free service to steel customers. Using MetalSite, these customers can transact business for a variety of steel products on a common website, reducing the hassle of navigating many individual supplier websites.

According to Duane R. Dunham, Bethlehem's newly elected president and chief operating officer: "Bethlehem's participation in MetalSite will benefit traditional steel customers by offering them another tool to manage their purchases and coordinate their supply chain, while giving Bethlehem the capability to reach out to new customers with specific steel product offerings. With the implementation of this online, collaborative form of e-Commerce, Bethlehem is excited about creating win-win situations for our customers."

Bethlehem Steel's online offerings will appear for the first time on MetalSite early in the fourth quarter of 1999.