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Bethlehem Steel Corporation Closes on Debtor-in-Possession Financing

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    Bethlehem Steel Corporation
    For Immediate Release

    BETHLEHEM, Pa., October 17, 2001 - In response to media inquiries, Bethlehem Steel Corporation confirmed that it had closed on the Debtor-in-Possession financing with GE Capital on October 16, 2001. All operations and production are continuing uninterrupted.

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    Media Contact:

    Bette Kovach - 610-694-6308

    Investor Contact:

    Jeff Faloba - 610-694-2206

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