AK Steel Signs Letter of Intent to Partner With MetalSpectrum.

Business Editors

ATLANTA and Middletown, Ohio--(BUSINESS WIRE)--Sept. 21, 2000

MetalSpectrum, the premier neutral marketplace for the metals industry, today announced that AK Steel (NYSE:AKS) signed a letter of intent to become a partner.

Under the proposed agreement, AK Steel will become a partner of the online marketplace, which includes more than 20 leading producer and distributor partners in the metals industry. AK Steel represents the first carbon steel producer to join MetalSpectrum.

"AK Steel provides the most diverse line of premier flat-rolled carbon, stainless and electrical steel products available," said Richard M. Wardrop, Jr., Chairman and Chief Executive Officer of AK Steel. "Our participation in MetalSpectrum will broaden significantly AK Steel's global marketing reach."

The MetalSpectrum partners have agreements in place to enable the site to provide market access to a comprehensive range of specialty metals including aluminum, stainless steel, copper, brass and premier carbon steel. To provide market access to sellers and pricing transparency to buyers, MetalSpectrum will support core functions including:

      --  Prime Metals Catalog - a comprehensive product listing and
        searching capability for a wide range of metals products;

      --  RFQ Function -- Request for Quote offering allows buyers and
        sellers to negotiate on up to 38 different attributes and
        numerous features beyond price, while exploring transaction
        options and making counter-offers;

      --  Metal-Specific Forward and Reverse Auctions -- for buying,
        selling and procuring products.

"Our partnership with AK Steel is a validation of MetalSpectrum's product functionality and customer-centric model," commented A. Alan Turfe, President and Chief Executive Officer at MetalSpectrum. "AK Steel further adds to our existing breadth of products by giving our customers another stainless steel opportunity, but also our initial source for carbon steel."

About AK Steel:

AK Steel, a Fortune 500 company, produces flat-rolled carbon, stainless and electrical steel products for automotive, appliance, construction and manufacturing markets, as well as standard pipe and tubular steel products. AK Steel, headquartered in Middletown, Ohio, had 1999 revenues of $4.3 billion, resulting in net income of $172.8 million on steel shipments of 6.5 million tons. The 1999 results exclude certain costs and special charges related to its merger with specialty steelmaker Armco. AK Steel employs about 11,000 men and women in steel plants and offices in Middletown, Coshocton, Mansfield, Warren and Zanesville, Ohio; Ashland, Kentucky; Rockport, Indiana; and Butler, Sharon and Wheatland, Pennsylvania. AK Steel also produces snow and ice control products, and operates a major industrial park on the Houston, Texas ship channel.

About MetalSpectrum:

MetalSpectrum is the premier metals marketplace for aluminum, stainless steel, copper and other specialty metals. The companies backing MetalSpectrum represent more than 20 of the leading names in the specialty metals industry. They include Alcoa Inc. (NYSE:AA); Allegheny Technologies (NYSE:ATI) and its divisions Allegheny Ludlum, Allegheny Rodney and Allvac; A.M. Castle & Co.; Chase Brass & Copper Co., Inc. (NYSE:CSI); Kaiser Aluminum (NYSE:KLU); North American Stainless; Olin Corporation (NYSE:OLN) including Olin Brass, A.J. Oster and Somers Thin Strip; Outokumpu American Brass; Pechiney Rolled Products; Reynolds Aluminum Supply Company and RASCO Specialty Metals; Thyssen Inc., NA and its TMX Distribution Group including Copper & Brass Sales and Ken-Mac Metals; TW Metals and Vincent Metal Goods/Atlas Ideal Metals. The marketplace is scheduled to launch later this month. The company is headquartered in Atlanta. For more information about MetalSpectrum visit www.metalspectrum.com.