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Bethlehem Steel Seeks to Increase Shareholder Value

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    Bethlehem Steel Corporation
    For Immediate Release

    BETHLEHEM, Pa., March 12, 2001 - In response to media inquiries concerning the proposal by Greenway Partners and Bethlehem's stated support of consolidation in the domestic steel industry, the following statement was issued:

    "Bethlehem Steel Corporation and its Board of Directors are committed to pursuing all appropriate actions that they believe will increase the value of Bethlehem Steel for its stockholders."

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