For Immediate Release

BETHLEHEM, Pa., August 16, 2002-Bethlehem Steel announced today that it has filed a motion with the United States Bankruptcy Court for the Southern District of New York requesting formation under Section 1114 of Chapter 11 of the Bankruptcy Code of a Court-appointed committee composed of Bethlehem Steel retirees to address modifications to health and welfare benefits for current retirees, their spouses and dependents.B

"If Bethlehem is to survive and prosper, we must address the $3 billion legacy costs associated with providing health and welfare benefits for over 95,000 retired employees, spouses and dependents," said Robert S. "Steve" Miller, Jr. Chairman and CEO of Bethlehem Steel Corporation. "Bethlehem is facing substantial increases next year in health care-related costs-and we must move forward with discussions on modified health care coverage for retirees," he continued.

Media Contact:
Bette Kovach
610-694-6308
Public Affairs Department
Bethlehem Steel Corporation

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