Stelco announces regulatory approval for its acquisition by U.S. Steel



    HAMILTON, ON, Oct. 29 /CNW/ - Stelco Inc. ("Stelco" or the "Corporation")
(TSX: STE) today announced that it has been advised that United States Steel
Corporation has received all regulatory approvals required to complete the
arrangement (the "Arrangement") of Stelco under section 192 of the Canada
Business Corporations Act involving the acquisition by an indirect
wholly-owned subsidiary of United States Steel Corporation of all of the
common shares of Stelco. The completion of the Arrangement remains subject to
the approval of the Ontario Superior Court of Justice at a hearing scheduled
for October 30, 2007 and the satisfaction of certain other conditions
described in the management proxy circular dated September 24, 2007 that was
mailed to shareholders of Stelco and is available on SEDAR at www.sedar.com.
Subject to the satisfaction of such conditions, it is anticipated that the
Arrangement will be completed on or about October 31, 2007.

    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.

    Cautionary Statement with Respect to Forward-Looking Statements

    Certain statements included herein constitute "forward-looking
statements". All statements, other than statements of historical fact,
included in this release that address future activities, events, developments
or financial performance, are forward-looking statements. These
forward-looking statements can be identified by the use of forward-looking
words such as "may", "should", "will", "could", "expect", "intend", "plan",
"estimate", "anticipate", "believe", "future" or "continue" or the negative
thereof or similar variations. The forward-looking statements are based on
certain assumptions and analyses made by Stelco and its management in light of
their experiences and their perception of historical trends, current
conditions and expected future developments, as well as other factors they
believe are appropriate in the circumstances. Stelco believes the following
factors could cause actual results to differ materially from those discussed
in the forward-looking statements: failure to satisfy the conditions to
complete the Arrangement, including failure to receive Court or other
approvals; the occurrence of any event, change or other circumstance that
could give rise to the termination of the agreement in respect of the
Arrangement; and the failure of the Arrangement to be completed for any other
reason. Although Stelco has attempted to identify important factors that could
cause actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or intended.
There can be no assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ materially from
those anticipated in such statements. The factors identified above are not
intended to represent a complete list of the factors that could affect Stelco.
Furthermore, the forward-looking statements contained in this Circular are
made as of the date of this release. In light of these risks, which are
inherent in forward-looking statements, readers are cautioned not to place
undue reliance on those forward-looking statements. The Corporation undertakes
no obligation to publicly update or revise any forward-looking statements or
information, whether as a result of new information, future events or
otherwise.

    %SEDAR: 00001549E




For further information:

For further information: D. Chad Hutchison, General Counsel and
Corporate Secretary, Stelco Inc., (905) 528-2511, Extension 2721

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STELCO INC.

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