Stelco signs Letter of Intent to sell Norambar, Stelfil and Stelwire

Stelco Inc. announced today that it has signed a Letter of Intent concerning the sale of Norambar Inc., Stelfil Ltée and Stelwire Ltd. to Mittal Canada Inc., a subsidiary of Mittal Steel Company N.V.

The transaction is subject to a number of conditions, including the negotiation of a definitive agreement and the obtaining of Court approval. It is anticipated that, if all conditions are satisfied as planned, the sale will close early in 2006.

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