For Immediate Release

BETHLEHEM, Pa., February 7, 2002 - In response to media inquiries concerning the reaction of Bethlehem Steel Corporation to the European Union's proposal that a tax be placed on steel sold in the United States to help cover steel industry legacy costs, the following statement is attributable to Robert "Steve" Miller, chairman and chief executive officer:

"The proposal by the European Union utterly fails to address either the fundamental cause or the immediacy of the current steel crisis.

"The legacy costs facing the domestic industry have resulted from substantial restructuring in response to the continuing flood of illegally dumped (at prices below the cost of production or the prices charged in the home country) steel imports caused by an enormous excess subsidized foreign capacity.

"The European proposal would do nothing to eliminate the root cause of the problem or address the urgency of the current situation.

"As recommended by the ITC, a strong tariff remedy is warranted and is consistent with the WTO guidelines. Bethlehem continues to urge the Bush Administration to institute a 40 percent tariff remedy to demonstrate the nation's intolerance of imports that ignore our trading laws."

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