Bethlehem Steel Corporation
For Immediate Release

BETHLEHEM, Pa., July 20, 2000 -- In response to media inquiries concerning the Congressional action on the disposition of the strategic mineral stockpiles, Bethlehem Steel Corporation issued the following statement:

Since the World War II era, the U.S. Department of Defense has owned or leased land that was part of the former Bethlehem plant. It was used for the storage of strategic alloys used in the production of steel for the manufacture of certain large guns and projectiles. These alloys are no longer classified as strategic materials by the Defense Department and are being sold by the U.S. government.

Of the 180,000 tons currently stored on the site, the remaining 55,000 tons that are unsold will, through the action of the Congress, become the property of Bethlehem Development Corporation, a subsidiary of Bethlehem Steel.

The net proceeds obtained from the sale of these ores will be used in the rehabilitation of these lands, which have been reserved for the U.S. government use for over 50 years.

Bethlehem requested the assistance of U.S. House of Representatives Pat Toomey and Jack Murtha, both of Pennsylvania, in securing Congressional approval of the transfer of these ores to Bethlehem for use in developing Bethlehem Commerce center. Pennsylvania�s U.S. Senators Arlen Specter and Rick Santorum also supported this action by the Congress last night.

"The Bethlehem Commerce Center and Bethlehem Works will contribute immeasurably to the economic revitalization of our region. Bethlehem Steel is immensely grateful to our elected officials, in particular Congressmen Pat Toomey and Jack Murtha for their efforts in the U.S. House of Representatives," said Duane R. Dunham, chairman, president and chief executive officer, Bethlehem Steel Corporation.