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BETHLEHEM STEEL RESPONDS TO ISPAT DECISION

 BETHLEHEM, Pa., April 1 /PRNewswire/ -- In response to questions from the news media regarding the decision by Ispat and the United Steelworkers of America to end discussions toward Ispat's purchase of Bethlehem Steel's (NYSE: BS) former Bar, Rod and Wire Division at Johnstown, Pa., a Bethlehem spokesman said:
 "After an extensive marketing effort, Bethlehem signed a letter of intent in November, 1992, with Ispat, the only qualified buyer at that time to submit an acceptable proposal for the entire Division. We deeply regret that the United Steelworkers and Ispat have not been able to reach an agreement, the result of which is the termination of the letter of intent with Bethlehem Steel. We will now immediately proceed to market the assets of the Division, and we will consider proposals from qualified buyers to acquire all or portions of the Division's facilities.
 "Bethlehem wishes to acknowledge the efforts during these discussions of the USWA and Ispat representatives, various community leaders and government officials, especially Congressman Murtha, Governor Casey and Johnstown Mayor Herb Pfuhl."
 /delval/
 -0- 4/1/93
 /CONTACT: H.H. Von Spreckelsen, manager, corporate communications, of Bethlehem Steel, 215-694-3711/
 (BS)


CO: Ispat Group; United Steelworkers of America; Bethlehem Steel
 Corporation; Bar, Rod and Wire Division ST: Pennsylvania IN: MNG SU: TNM


MP-LJ -- PH027 -- 2113 04/01/93 14:38 EST
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Publication:PR Newswire
Date:Apr 1, 1993
Words:220
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