Bethlehem Steel Corporation
For Immediate Release

COLUMBUS, Ohio, November 29, 2000 -- Praising the power of partnerships, executive officers of Bethlehem Steel Corporation and LTV Steel officially opened their new joint venture here to produce the highest quality of galvanized and galvannealed sheet steel for the North American auto industry.

The opening of Columbus Coatings Company demonstrates "the power of partnerships - for our customers, our stockholders and our employees," said Duane R. Dunham, chairman, president and chief executive officer, Bethlehem Steel. Turning to Richard J. Hipple, president of LTV Steel, Mr. Dunham said, "Bethlehem and LTV are partners in a new breed of galvannealed sheet steel for the automotive industry. Both companies have brought to the table the technological expertise and legacy of brand that we believe will give Columbus Coatings a competitive edge."

LTV Steel's Mr. Hipple said, "The conversion of our electrogalvanizing facility was a very cost-effective way for LTV to serve our automotive customers' growing needs for the highest-quality hot-dip galvanized steel. The conversion of the facility also allowed for the retention of a skilled and experienced group of employees and high quality manufacturing jobs in the Columbus community."

Columbus Coatings began trial operations "on time and within budget," said Mr. Dunham, in early October 2000 following 15 months of construction to convert the line from an electrogalvanizing line to a galvanized and galvannealed coating line. Bethlehem and LTV are 50/50 partners in the line's output of about 500,000 tons annually.

The joint venture also includes Columbus Processing Company, which provides steel slitting, inspection and warehousing services for the automotive industry. Columbus Processing is located less than one mile from Columbus Coatings.

Also attending the opening ceremonies this morning were Ohio Governor Bob Taft, City of Columbus Mayor Michael Coleman, Village of Obetz Mayor Louise Crabtree, United Steelworkers of America Local President Doug Mullen and more than 100 community leaders, suppliers, customers and neighbors. Calvin Baxter, general manager, Columbus Coatings and Columbus Processing Companies, was host of the event.

In establishing the joint venture, Bethlehem acquired a 50-percent interest in the former L-S II electrogalvanizing joint venture from Sumitomo Metal Industries. LTV retained its 50-percent interest in L-S II and purchased from Bethlehem a 16.5-percent equity interest in Walbridge Coatings, an electrogalvanizing plant in northwestern Ohio. LTV's ownership interest in Walbridge will provide access to 33 percent of the plant's available line time, enabling LTV to continue to satisfy its customers' needs for electrogalvanized steel sheets. The Walbridge venture was previously a 50/50 partnership between Bethlehem and Material Sciences Corporation of Elk Grove Village, Ill.

In addition to the Columbus Coatings and Walbridge facilities, Bethlehem produces premium coated steel sheets for the automotive industry at Burns Harbor, Ind., and Lackawanna, N.Y. Bethlehem is a five-time recipient of General Motors' Supplier of the Year award and recently received Automotive Industries magazine's 2000 Quest for Excellence award as one of the "best of the best" suppliers to the automotive industry.

Bethlehem Steel Corporation is the nation's second largest integrated steel company with revenues of about $4 billion and shipments of about nine million tons. Its 14,500 employees work primarily in three major divisions - Burns Harbor, Ind., Sparrows Point, Md. (with plate mills in Coatesville and Conshohocken, Pa.), and Pennsylvania Steel Technologies, Steelton, Pa. The corporation is a leading supplier to the North American automotive and construction industries, and is the largest supplier of plate products on the continent.

LTV Steel produces coated steel sheets at plants in East Chicago, Ind.; Hennepin, Ill., and its L-S electrogalvanizing joint venture in Cleveland. LTV is a leading producer of value-added, high-quality flat rolled steel for the North American automotive industry. The company is routinely recognized for high-quality products and services by the leading manufacturers of automobiles, appliances, electrical equipment and fabricated metal products. LTV is also the largest producer of tubular steel products in North America and the nation's second largest producer of pre-engineered metal buildings.