For Immediate Release

BETHLEHEM, Pa., December 26, 2002 - Bethlehem Steel Corporation has contracted with Summit Management and Realty Company, a member of TCN Worldwide, and H. T. Lyons, Inc., a subsidiary of PPL Corporation, to manage the building operations of its corporate office buildings located in Bethlehem, Pa.

Under this arrangement, which was effective December 16, 2002, Summit Management and Realty Company and H. T. Lyons will oversee operations and maintenance, and act as Bethlehem's limited agent for contracting most third?party services at its corporate office.

"This agreement is consistent with our plan to outsource activities that are not part of our core business. At the same time, our building tenants will continue to be provided a first-class office environment, which was an important factor in our selection of Summit and H. T. Lyons," said Edmund P. Reybitz, vice president, business services, Bethlehem Steel Corporation.

"Summit Management and Realty Company and H T Lyons, Inc. will be capable of providing Bethlehem Steel a complement of professional buildings services and equipment maintenance. Occupants of Bethlehem Steel's facilities will continue to experience the high level of services they have received in the past, " said Frank T. Smith, Summit Management and Realty Company.

As part of the arrangement, about 10 Bethlehem Steel employees will become employees of Summit Management and Realty Company. The properties managed include Bethlehem Steel's Martin Tower complex and Eighth Avenue Building and other buildings around the area of Bethlehem, Pa.

Summit Management and Realty Company is a full-service commercial/industrial real estate firm serving eastern Pennsylvania. Summit provides comprehensive services in development, brokerage, acquisitions and disposition, leasing, investment sales, asset and property management, corporate services, build-to-suit leaseback management, consultation, advisory services and research. Summit Management and Realty Company was founded in 1986 and is based in the Lehigh Valley. The company is a member of TCN Worldwide, an organization of 150 leading independent commercial real estate brokerage firms in North America, Europe, Asia and the Pacific Rim.

For more information, contact Pam Morris, Summit Management and Realty Company, 1620 Pond Road, Suite 100, Allentown, PA 18103; phone 610-264-0200, fax 610-871-1700, email [email protected].

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