Bethlehem Steel Corporation
For Immediate Release

BETHLEHEM, Pa., October 18, 2001 - Bethlehem Steel Corporation (NYSE:BS) announced that, at a meeting with the United Steelworkers of America (USWA) on Wednesday, it was agreed to begin discussions during the week of October 22 to address issues of mutual concern to the company and the union.

Robert S. Miller, chairman and chief executive officer of Bethlehem, said, "The cooperation of the USWA is essential to the development of a successful Plan of Reorganization. We share a common goal of preserving Bethlehem's precious industrial assets and protecting the interests of its workers, and we expect that a constructive dialogue will result in a responsible solution to the significant challenges that our company faces."

Bethlehem, the second largest integrated steel company in the United States, employs about 13,000 people. Bethlehem also provides benefits to over 130,000 active workers, retirees and their dependents. It has principal operations in Indiana, Maryland, Pennsylvania, and New York, and produces a wide variety of steel mill products, including hot-rolled, cold-rolled and coated sheets, tin mill products, carbon and alloy plates, rail, specialty blooms, carbon and alloy bars, and large diameter pipe. Its principal markets include automotive, construction, machinery and equipment, appliance, container, service center, rail and energy.

Media Contact:

Bette Kovach - 610-694-6308

Bethlehem Steel Corporation

Public Affairs Department

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