Bethlehem Steel Corporation
For Immediate Release

Coatesville, Pa., - June 28, 2000 - Bethlehem Steel Corporation's Bethlehem Lukens Plate (BLP) has signed a three-year contract worth over $20 million with the Kvaerner Philadelphia Shipyard to supply American Bureau of Shipbuilding (ABS) grade plate steel to the Scandinavian shipbuilder. Kvaerner will produce a minimum of three container ships with an estimated steel plate requirement of 30,000 tons. Charles Mattia, general manager of marketing for BLP, said "A key part of this contract is BLP's commitment to provide required plate tonnages to exacting specifications and delivery schedules. Kvaerner's presence in the Delaware Valley is good for local companies, like Bethlehem Steel, and the state's economic initiatives."

The required ABS plate steel grades will be rolled on Bethlehem Steel's mills in Conshohocken, Pa., and Burns Harbor, Ind. Both mills' unique capabilities will be used to meet the customer's requirements. The plate is subsequently blasted, painted and shipped to the Philadelphia shipyard on a just-in-time basis.

Kvaerner, upon reopening the Philadelphia shipyard, received $430 million in support from federal, state and local governments. The public funds are being used to rebuild the yard and train the workforce.

Bethlehem Lukens Plate manufactures carbon, alloy and specialty plate steels. A division of Bethlehem Steel Corporation, BLP is the leading producer of plate steels in North America.