For Immediate Release

BETHLEHEM, Pa., April 22, 2003 - The terms of the sale of substantially all of Bethlehem Steel Corporation's assets to International Steel Group were approved this morning in U.S. Bankruptcy Court of the Southern District of New York.

In a ruling this morning, the Honorable Burton Lifland ruled that the terms offered by ISG present the best and highest value available for Bethlehem's assets and ordered that the sale proceed. All objections to the sale were either resolved by the parties or overruled by the judge.

"Bethlehem and ISG will now work to complete the transaction to provide a continuum of service and employment to Bethlehem's customers and employees," said Robert S. Miller, Bethlehem's chairman and chief executive officer. "Combining the well-maintained and productive assets of Bethlehem with ISG creates a formidable competitor in the rapidly consolidating domestic steel industry. I believe that Bethlehem's assets, under ISG ownership, will continue to be leading suppliers of innovative and customer-responsive steel products."

The sale of Bethlehem's assets to ISG is expected to be completed by April 30.

For More Information Contact:
Bette Kovach
610-694-6308
Public Affairs Department
Bethlehem Steel Corporation

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