Clarification of semi-annual interest rate for Stelco's floating rate note



    HAMILTON, ON, Sept. 28 /CNW/ - Stelco Inc. (TSX:STE) today announced that
it has clarified the rate of interest per annum, for the period from September
30, 2007 to March 30, 2008 inclusive, for Stelco's floating rate notes due
2016 (the "Notes"). On September 27, 2007, Stelco previously announced that,
for that period, the rate of interest per annum for the Notes would be 10.64%.
    Stelco has now clarified that, for the period from September 30, 2007 to
March 30, 2008 inclusive, the rate of interest per annum for the Notes will be
10.64438%. The foregoing interest rate, which has been established in
accordance with the terms of the indenture governing the Notes (the
"Indenture"), is subject to adjustment in certain circumstances as provided
for in the Indenture.

    About Stelco

    Stelco is one of Canada's largest steel companies. It is focused on its
two Ontario-based integrated steel businesses located in Hamilton and in
Nanticoke. These operations produce high quality value-added hot rolled, cold
rolled, coated sheet and bar products. To learn more about Stelco and its
businesses, please refer to our Web site at www.stelco.ca.

    %SEDAR: 00001549E




For further information:

For further information: J. Kenneth Rutherford, Chief Financial Officer,
Stelco Inc., (905) 528-2511, Extension 2022

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STELCO INC.

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