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BETHLEHEM STEEL'S BOARD APPROVES MODERNIZATION PLAN FOR STEELTON, PA., RAIL PRODUCTS AND PIPE DIVISION

           BETHLEHEM STEEL'S BOARD APPROVES MODERNIZATION PLAN
           FOR STEELTON, PA., RAIL PRODUCTS AND PIPE DIVISION
    BETHLEHEM, Pa., Oct. 28 /PRNewswire/ -- Bethlehem Steel Corporation's (NYSE: BS) Board of Directors today approved a modernization program to establish the company's Steelton, Pa., Rail Products and Pipe Division as the low-cost North American producer of high-quality railroad rails and semi-finished steel products.  Steelton is now the nation's largest rail supplier and currently produces a full line of rail products for the railroad and transit industries.
    The program will enable Steelton to produce head-hardened rails, and will include the installation of state-of-the-art steelmaking facilities to complement the existing modern continuous caster.  Implementation of these improvements will enable the Division's railroad customers to purchase much higher quality rail, and they will continue to have Steelton's demonstrated ability to provide superior technical support and service.
    The modernization program requires ratification of the recently negotiated labor agreement with the United Steelworkers of America, which is scheduled for early November.
    In addition to the planned installation of a head-hardened rail production facility, the company will install a new DC electric arc furnace, a ladle furnace, and a vacuum degassing unit to augment the new railmaking technology and to provide higher quality cast steel to the bloom, billet and bar markets.
    Various contracts need to be finalized and will be placed immediately thereafter to commence construction.
    "The added capability of producing head-hardened rail will put us in a select international group of suppliers, and will give this Division a competitive advantage in the North American market for this type of rail," said Andrew R. Futchko, Division president.  "Bethlehem has been and will continue to be a proven and a reliable producer.  This new program will allow us to manufacture higher quality rail to lower cost, and we intend to share these benefits with our customers by providing the longer-lasting product at fair and competitive prices.  Furthermore, since much of the project engineering has been completed, we will move forward quickly to implement the program."
    /delval/
    -0-                        10/28/92
    /CONTACT:  Henry Von Spreckelsen of Bethlehem Steel, 215-694-3711/
    (BS) CO:  Bethlehem Steel Corporation ST:  Pennsylvania IN:  MNG SU: MJ -- PH029 -- 6021 10/28/92 12:53 EST
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Publication:PR Newswire
Date:Oct 28, 1992
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