Bethlehem Steel Corporation
For Immediate Release

BETHLEHEM, Pa., September 30, 1999 -- The appointment, effective October 1, 1999, of Blaise E. Derrico to general manager, financial planning, investor relations and credit, at Bethlehem Steel Corporation was announced today by Curtis H. Barnette, chairman and chief executive officer.

Mr. Derrico is on the staff of Gary L. Millenbruch, vice chairman and chief financial officer.

A native of Bethlehem, Mr. Derrico received a bachelor of arts degree in accounting from Franklin and Marshall College in 1976. He also received a master of business administration degree from Moravian College in 1994.

Mr. Derrico began his Bethlehem career in 1978 as an associate auditor in the accounting department at the corporate headquarters. In 1982, he moved to Bethlehem's Burns Harbor, Ind., Division where he was responsible for all audits involving Burns Harbor, Bethlehem's diversified businesses and its West Coast operations.

He returned to the corporate headquarters in 1984 as manager, accounting personnel, and then progressed through several accounting and finance positions. In 1987, Mr. Derrico was promoted to manager, investor relations, and in 1997 assumed additional responsibility for the credit division. Effective June 1, 1998, he was elected assistant treasurer responsible for financial planning, investor relations and credit.

Mr. Derrico is a member of the Manufacturers Alliance and Investor Relations Council. He is a 1989 graduate of Leadership Lehigh Valley and currently serves as a member of the board of directors of the Boys and Girls Club of Bethlehem.

A resident of Bethlehem, Mr. Derrico and his wife, Kathy, are the parents of three children.