For Immediate Release

BETHLEHEM, Pa., June 10, 2002 - Bethlehem Steel Corporation has acquired full ownership of Columbus Coatings Company and the companion Columbus Processing Company, both located near Columbus, Ohio. The facilities had been 50/50 joint ventures between Bethlehem Steel and LTV Steel.

The terms of the sale included a $2.5 million payment by Bethlehem Steel, the forgiveness of certain liabilities owed by LTV Steel and assumption of LTV Steel's portion of the outstanding venture modernization loan.

Columbus Coatings, which began operation in fall 2000, is capable of producing up to 500,000 tons per year of galvannealed and galvanized sheet primarily for the automotive industry. Columbus Processing Company takes Columbus Coatings' material for slitting, inspection and warehousing.

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

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