Bethlehem Steel Corporation
For Immediate Release

BETHLEHEM, Pa., January 1, 2000 - In response to media inquiries concerning the impact on Bethlehem Steel Corporation�s activities of the Y2K transition, the following statement was issued:

All Bethlehem Steel Corporation�s facilities not on scheduled vacations have returned to operation as planned following the Y2K computer transition. Some of the corporation�s primary operations such as coke ovens, blast furnaces, basic oxygen furnaces and continuous casters that were in operation were paused intentionally shortly before midnight. Following the planned systems validation, these facilities resumed operations shortly after midnight. The remaining facilities, which were on scheduled holiday outages, such as the electric furnaces and some finishing mills, will return to operation as planned over the next three days.

"This smooth transition is testimony to the careful and well-thought-out planning of the past five years. Bethlehem�s employees in information technology and at our operations worked effectively with various information services providers to ensure we were prepared for the changeover. Because of the smooth transition, we are able to offer our customers uninterrupted delivery of the full range of Bethlehem�s products," said Curtis H. Barnette, chairman and chief executive officer, Bethlehem Steel Corporation.

All facilities have resumed operations as planned, except those on scheduled outages.